Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Unusually-High Trading Volume on Analyst Upgrade

Cementos Pacasmayo S.A.A. (NYSE:CPAC) saw strong trading volume on Friday after Scotiabank raised their price target on the stock from $6.40 to $12.80. Scotiabank currently has a sector perform rating on the stock. 19,484 shares traded hands during mid-day trading, a decline of 17% from the previous session’s volume of 23,505 shares.The stock last traded at $10.2650 and had previously closed at $10.28.

CPAC has been the subject of several other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cementos Pacasmayo S.A.A. in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on Cementos Pacasmayo S.A.A. from $6.50 to $7.50 and gave the company an “underweight” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cementos Pacasmayo S.A.A. currently has a consensus rating of “Hold” and a consensus price target of $10.15.

Institutional Trading of Cementos Pacasmayo S.A.A.

A hedge fund recently raised its stake in Cementos Pacasmayo S.A.A. stock. BNP Paribas Financial Markets lifted its position in shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 6.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 30,110 shares of the construction company’s stock after acquiring an additional 1,900 shares during the period. BNP Paribas Financial Markets’ holdings in Cementos Pacasmayo S.A.A. were worth $179,000 as of its most recent filing with the SEC.

Cementos Pacasmayo S.A.A. Trading Up 1.9%

The firm’s 50-day simple moving average is $7.34 and its 200 day simple moving average is $6.72. The company has a current ratio of 1.40, a quick ratio of 0.49 and a debt-to-equity ratio of 0.66. The stock has a market cap of $888.30 million, a P/E ratio of 14.97 and a beta of 0.69.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last announced its earnings results on Tuesday, October 28th. The construction company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $165.53 million for the quarter, compared to analysts’ expectations of $159.70 million. Cementos Pacasmayo S.A.A. had a return on equity of 17.19% and a net margin of 10.68%. As a group, equities research analysts anticipate that Cementos Pacasmayo S.A.A. will post 0.62 earnings per share for the current year.

Cementos Pacasmayo S.A.A. Announces Dividend

The company also recently declared a special dividend, which was paid on Thursday, December 18th. Stockholders of record on Friday, November 21st were paid a dividend of $0.6018 per share. The ex-dividend date of this dividend was Friday, November 21st. Cementos Pacasmayo S.A.A.’s dividend payout ratio (DPR) is 80.00%.

About Cementos Pacasmayo S.A.A.

Cementos Pacasmayo SAA. is a Peru‐based cement and construction materials company engaged in the production, distribution and sale of cement and related products. The company’s core activities include manufacturing ordinary portland cement, hydrated lime and other industrial minerals. It serves the building and infrastructure sectors, offering tailored solutions for public works, residential and commercial construction projects.

Founded in 1949 in the coastal city of Pacasmayo, the company has grown into one of Peru’s leading cement producers.