Cementos Pacasmayo S.A.A. (CPAC) Shares Bought by Investec Asset Management LTD
Investec Asset Management LTD increased its stake in Cementos Pacasmayo S.A.A. (NYSE:CPAC) by 24.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 265,939 shares of the construction company’s stock after buying an additional 51,464 shares during the quarter. Investec Asset Management LTD owned 0.31% of Cementos Pacasmayo S.A.A. worth $3,385,000 at the end of the most recent quarter.
Separately, Dimensional Fund Advisors LP lifted its holdings in Cementos Pacasmayo S.A.A. by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 76,297 shares of the construction company’s stock valued at $872,000 after purchasing an additional 8,067 shares during the last quarter. Hedge funds and other institutional investors own 4.43% of the company’s stock.
CPAC has been the topic of several recent research reports. Scotiabank downgraded shares of Cementos Pacasmayo S.A.A. from a “sector outperform” rating to a “sector perform” rating and upped their price objective for the company from $11.90 to $14.10 in a report on Saturday, September 16th. BidaskClub downgraded shares of Cementos Pacasmayo S.A.A. from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Barclays upped their price objective on shares of Cementos Pacasmayo S.A.A. from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Finally, Zacks Investment Research raised shares of Cementos Pacasmayo S.A.A. from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Cementos Pacasmayo S.A.A. has an average rating of “Hold” and an average price target of $12.37.
The business also recently declared an annual dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.539 per share. The ex-dividend date is Tuesday, November 14th. This is a boost from Cementos Pacasmayo S.A.A.’s previous annual dividend of $0.43. This represents a dividend yield of 4.17%. Cementos Pacasmayo S.A.A.’s dividend payout ratio is currently 161.29%.
About Cementos Pacasmayo S.A.A.
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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