Cementos Pacasmayo SAA (CPAC) Upgraded to Hold at Zacks Investment Research
According to Zacks, “Cementos Pacasmayo is a cement company engaged in the distribution and selling of cement and cement-related materials, such as concrete blocks and ready-mix concrete in the North region of Peru. The Company also produces and sells quicklime for use in mining. Cementos Pacasmayo is based in Santiago de Surco, Peru. “
Cementos Pacasmayo SAA (NYSE:CPAC) opened at 9.43 on Tuesday. The stock has a 50 day moving average price of $9.47 and a 200-day moving average price of $8.89. The stock’s market capitalization is $1.03 billion. Cementos Pacasmayo SAA has a 12-month low of $5.45 and a 12-month high of $10.30.
The business also recently announced a dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, September 9th will be issued a $0.4261 dividend. This is a boost from Cementos Pacasmayo SAA’s previous dividend of $0.38. The ex-dividend date is Tuesday, September 6th. Cementos Pacasmayo SAA’s payout ratio is presently 156.00%.
Several institutional investors have recently modified their holdings of the company. Legato Capital Management LLC boosted its position in shares of Cementos Pacasmayo SAA by 49.8% in the second quarter. Legato Capital Management LLC now owns 648,998 shares of the company’s stock worth $5,796,000 after buying an additional 215,800 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cementos Pacasmayo SAA by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 70,309 shares of the company’s stock worth $628,000 after buying an additional 1,219 shares during the last quarter. Raymond James & Associates bought a new position in shares of Cementos Pacasmayo SAA during the second quarter worth about $163,000. Finally, Nuveen Fund Advisors LLC bought a new position in shares of Cementos Pacasmayo SAA during the second quarter worth about $133,000. Institutional investors and hedge funds own 4.33% of the company’s stock.
About Cementos Pacasmayo SAA
Pacasmayo Cement Corp, formerly Cementos Pacasmayo SAA, is a Peru-based company principally engaged in the production, distribution and sale of construction materials. The Company is active in the development of traditional and blended cement, ready-mix concrete, mortars, quicklime, concrete blocks, diatomite bricks and aggregates, among others.
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