Jesse E. Gary, President and CEO, Inc Century Aluminum Company (NASDAQ:), 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. Shares were sold at weighted average prices of $18.48 to $18.97 per share. The stock, which has returned an impressive 51.65% over the past year, is currently trading at $18.23 with a remarkably low P/E ratio of 5.52.
Following these transactions, Gary has 753 shares held in trust, while an additional 324,657 shares are held directly, including unvested restricted stock units. The sales were part of routine financial management and were carried out under a revocable and self-settled trust. according to InvestingProCentury Aluminum maintains a good financial health score, with over 8 additional exclusive insights available to subscribers. The company's comprehensive Pro Research report, part of InvestingPro's coverage of more than 1,400 U.S. stocks, provides a detailed analysis of its financial condition and growth prospects.
In other recent news, Century Aluminum announced a major shift in its executive leadership, promoting Rob Hoffman to senior vice president, chief information officer and chief accounting officer. This follows a strong financial performance in the third quarter, with adjusted EBITDA of $104 million, shipments of approximately 169,000 tons, and net sales of $539 million. Analyst firms Wolfe Research and BMO Capital updated and revised their price targets for Century Aluminum, respectively, reflecting a positive outlook based on expectations of higher commodity prices for aluminum.
Century Aluminum is also exploring strategic alternatives for its inactive Hawesville smelter, which could impact future operations and financial results. The company provided an EBITDA guidance range of $70 million to $80 million for Q4 2024. Furthermore, Century Aluminum's commitment to safety and operational stability across all smelters was reiterated, particularly in the recovery phase at Jamalco After Hurricane Beryl. These are the latest developments in the company's ongoing operations.
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