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Robert F. Hoffman, the Senior Vice President of IT and Chief Accounting Officer at Century Aluminum Co . (NASDAQ:CENX), recently sold a portion of his holdings in the company. The sale comes as Century Aluminum’s stock has shown remarkable strength, gaining over 66% in the past year and nearly 13% in the last week alone. According to a filing with the Securities and Exchange Commission, Hoffman sold 2,500 shares of common stock on March 14 at a price of $19.99 per share, totaling $49,974. InvestingPro analysis suggests the stock is currently undervalued, trading at an attractive P/E ratio of 5.9x while maintaining strong profitability with earnings per share of $3.44.
Following this transaction, Hoffman retains direct ownership of 64,083 shares, which includes unvested time-vested stock units (TVSUs) granted under the company’s Long-Term Incentive Plans. Additionally, Hoffman indirectly holds a small amount of shares through a 401(k) plan, as reported by the plan trustee. For deeper insights into insider transactions and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering Century Aluminum’s financial health, valuation metrics, and growth prospects.
In other recent news, Century Aluminum reported its fourth-quarter 2024 financial results, revealing a mixed performance. The company achieved revenue of $631 million, surpassing forecasts by $116.73 million, although its earnings per share (EPS) of $0.49 fell short of the expected $0.59. The firm also announced plans for a new U.S. smelter project, potentially doubling the industry’s size. Meanwhile, BMO Capital Markets upgraded Century Aluminum’s stock rating from Market Perform to Outperform, setting a price target of $22.00. Analyst Katja Jancic cited the company’s attractive valuation and potential benefits from favorable Midwest Premium and aluminum prices as reasons for the upgrade.
The U.S. government’s decision to impose an additional 25% tariff on Canadian aluminum has also impacted the market, with Century Aluminum shares experiencing a 7% increase. This tariff escalation is a response to Ontario’s 25% tariff on electricity exports to the U.S. President Trump justified the move as necessary to protect U.S. steel and aluminum industries. Analysts and investors are closely monitoring these developments, anticipating potential benefits for domestic producers by reducing competition from Canadian imports. These recent developments highlight the dynamic environment Century Aluminum is navigating, with significant implications for its financial performance and strategic outlook.
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