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

Cementos Pacasmayo S.A.A. (NYSE:CPAC) saw unusually-high trading volume on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $6.50 to $7.50. JPMorgan Chase & Co. currently has an underweight rating on the stock. Approximately 18,188 shares were traded during trading, an increase of 187% from the previous session’s volume of 6,340 shares.The stock last traded at $7.3450 and had previously closed at $7.57.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Cementos Pacasmayo S.A.A. in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $6.95.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cementos Pacasmayo S.A.A. stock. Benjamin Edwards Inc. bought a new position in shares of Cementos Pacasmayo S.A.A. (NYSE:CPAC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 75,041 shares of the construction company’s stock, valued at approximately $522,000. Benjamin Edwards Inc. owned about 0.09% of Cementos Pacasmayo S.A.A. at the end of the most recent reporting period.

Cementos Pacasmayo S.A.A. Trading Down 3.0%

The company has a 50 day moving average of $7.00 and a two-hundred day moving average of $6.31. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.40 and a current ratio of 1.34. The stock has a market capitalization of $622.24 million, a PE ratio of 10.49 and a beta of 0.77.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last announced its earnings results on Tuesday, October 28th. The construction company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. Cementos Pacasmayo S.A.A. had a return on equity of 17.83% and a net margin of 10.68%.The firm had revenue of $162.44 million for the quarter, compared to the consensus estimate of $159.70 million. Sell-side analysts predict that Cementos Pacasmayo S.A.A. will post 0.62 EPS for the current year.

Cementos Pacasmayo S.A.A. Announces Dividend

The company also recently declared a special dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 21st will be given a dividend of $0.6018 per share. The ex-dividend date of this dividend is Friday, November 21st. Cementos Pacasmayo S.A.A.’s payout ratio is currently 78.57%.

Cementos Pacasmayo S.A.A. Company Profile

Cementos Pacasmayo SAA., a cement company, produces, distributes, and sells cement and cement-related materials in Peru. It operates through three segments: Cement, Concrete, Mortar and Precast; Quicklime; and Sales of Construction Supplies. The company’s cement and concrete products are used in residential and commercial construction, and civil engineering; ready-mix concrete used in construction sites; concrete precast, such as paving units or paver stones for pedestrian walkways, as well as other bricks for partition walls and concrete precast for structural and non-structural uses; and cement-based products.