Jesse E. Gary, President and CEO of Century Aluminum Co (NASDAQ:CENX), recently executed significant stock sales according to a recent filing. On December 26 and 27, Gary sold a total of 79,243 shares, generating approximately $1.48 million. The shares were sold at weighted average prices ranging from $18.48 to $18.97 per share. The stock, which has delivered an impressive 51.65% return over the past year, currently trades at $18.23 with a notably low P/E ratio of 5.52.
Following these transactions, Gary retains 753 shares held in a trust, while an additional 324,657 shares, including unvested restricted stock units, are held directly. The sales were part of routine financial management and were executed under a self-settled, revocable trust. According to InvestingPro, Century Aluminum maintains a GOOD financial health score, with 8+ additional exclusive insights available to subscribers. The company's comprehensive Pro Research Report, part of InvestingPro's coverage of 1,400+ US stocks, provides detailed analysis of its financial position and growth prospects.
In other recent news, Century Aluminum has reported significant shifts in its executive leadership, promoting Rob Hoffman to Senior Vice President, Chief Information Officer, and Chief Accounting Officer. This follows strong financial performance in the third quarter, with an adjusted EBITDA of $104 million, shipments of approximately 169,000 tons, and net sales of $539 million. Analyst firms, Wolfe Research and BMO Capital, have upgraded and adjusted their price targets for Century Aluminum, respectively, reflecting a positive outlook based on higher commodity price forecasts for aluminum.
Century Aluminum is also exploring strategic alternatives for the idle Hawesville smelter, which may impact future operations and financial outcomes. The company has provided an EBITDA guidance range of $70 million to $80 million for the fourth quarter of 2024. Furthermore, Century Aluminum's commitment to safety and operational stability across all smelters has been emphasized, particularly in the recovery at Jamalco post-Hurricane Beryl. These are the latest developments in the company's ongoing operations.
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