Century Aluminum insider trading: SVP cashes out $49K in stock sale

In recent developments at Century Aluminum Company (NASDAQ:CENX), Senior Vice President, Chief Information Officer, and Chief Accounting Officer Robert Hoffman executed a stock sale totalling USD 49,974. This transaction involved the sale of 2,500 shares at an average price of USD 19.99 per share.

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Mr Hoffman's tenure at Century Aluminum spans over two decades, having joined the company in October 2004. His career progression includes roles such as Director of Financial Planning and Analysis (2015-2017), Chief Information Officer (appointed in June 2017), and Vice President, Chief Accounting Officer, and Chief Information Officer in 2021. In December 2024, following the departure of former Principal Accounting Officer Theresa Brainerd, Mr. Hoffman was promoted to his current position.

This recent stock sale by Hoffman is part of a series of insider transactions at Century Aluminum. Notably, in December 2024, President and CEO Jesse E. Gary sold 79,243 shares, amounting to approximately USD 1.48 million. These shares were sold at weighted average prices ranging from USD 18.48 to USD  18.97 per share. Gary retained 753 shares held in a trust post-transaction and an additional 324,657 shares, including unvested restricted stock units, held directly.

Century Aluminum has demonstrated strong financial performance in recent periods. The third quarter reported an adjusted EBITDA of USD 104 million, attributed to improved aluminium prices and the introduction of new Section 45X tax credits. The company also reported shipments of approximately 169,000 tons and net sales of USD  539 million. Analyst firms, including Wolfe Research and BMO Capital, have responded positively, upgrading and adjusting their price targets for Century Aluminum, reflecting a favourable outlook based on higher commodity price forecasts for aluminium.

Insider stock transactions, such as those by Mr Hoffman and Mr Gary, are often scrutinised by investors for potential insights into the company's prospects. While these sales can be routine for personal financial management, they also provide transparency and can influence investor sentiment.