On February 13, 2026, Impala Asset Management LLC disclosed a buy of 168,805 shares of Century Aluminum Company (CENX 0.38%), an estimated $5.27 million trade based on quarterly average pricing.
What happened
According to a SEC filing dated February 13, 2026, Impala Asset Management LLC increased its stake in Century Aluminum Company (CENX 0.38%) by 168,805 shares during the fourth quarter. The estimated transaction value was $5.27 million, calculated using the period’s average closing price. The fund’s quarter-end position in the company stood at 857,805 shares, with a total value of $33.61 million. The overall value of the position rose $13.38 million from the previous quarter, reflecting both additional shares and stock appreciation.
What else to know
Impala’s buy activity brought its post-trade stake in Century Aluminum Company to 21.17% of its 13F reportable assets.
- Top five holdings after the quarter:
- NASDAQ: CENX: $33.61 million (21.2% of AUM)
- NYSE:ERO: $26.95 million (18.2% of AUM)
- NYSE:BKE: $21.37 million (14.4% of AUM)
- NYSE:HUN: $8.67 million (5.9% of AUM)
- NYSE:WHR: $7.94 million (5.4% of AUM)
- As of February 12, 2026, shares of Century Aluminum Company were priced at $49.70, up 146.5% over the past year and vastly outperforming the S&P 500 by 133.63 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.53 billion |
| Net income (TTM) | $85.20 million |
| Price (as of market close February 12, 2026) | $49.70 |
| One-year price change | 146.53% |
Company snapshot
- Century Aluminum Company produces standard-grade and value-added primary aluminum products, with operations in the United States and Iceland, and a carbon anode facility in the Netherlands.
- The company generates revenue primarily through the manufacturing and sale of primary aluminum products to industrial customers.
- It serves industrial clients in North America and Europe, focusing on large-scale buyers in sectors such as automotive, construction, and packaging.
Century Aluminum Company produces primary aluminum products, with facilities in the United States and Iceland, and operates a carbon anode production facility in the Netherlands. The company produces standard-grade and value-added primary aluminum products.
What this transaction means for investors
When a single stock becomes more than one-fifth of a portfolio, it stops being a trade and starts becoming a thesis. At $33.61 million, Century Aluminum now represents 21.17% of reported assets, making it the fund’s largest position by a wide margin. That is a bold call in a cyclical business.
The company’s third-quarter results help explain the conviction. Net sales reached $632.2 million, and adjusted EBITDA attributable to stockholders climbed to $101.1 million, up from $74.3 million in the prior quarter. Meanwhile, adjusted earnings came in at $0.56 per share, reflecting stronger realized Midwest premiums and improved operating leverage. Plus, liquidity stood at $488.2 million at quarter end, providing flexibility in a volatile commodity environment.
Shares at $49.70 are up 146.5% over the past year, far outpacing the broader market. That performance cuts both ways. Aluminum pricing, power costs, and trade policy remain swing factors. Long-term investors should watch cash generation, balance sheet discipline, and the sustainability of premium pricing. In a concentrated portfolio that also holds names like ERO and BKE, this is clearly a high-conviction cyclical bet rather than a diversified hedge.
