Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Large Drop in Short Interest

Cementos Pacasmayo S.A.A. (NYSE:CPAC) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 19,572 shares, a decrease of 56.0% from the July 30th total of 44,476 shares. Based on an average daily volume of 50,894 shares, the short-interest ratio is currently 0.4 days. Currently, 0.0% of the shares of the stock are sold short.

Institutional Trading of Cementos Pacasmayo S.A.A.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Cementos Pacasmayo S.A.A. by 13.4% during the first quarter. Dimensional Fund Advisors LP now owns 104,077 shares of the construction company’s stock valued at $1,036,000 after buying an additional 12,323 shares during the period. Virtu Financial LLC purchased a new stake in Cementos Pacasmayo S.A.A. in the 4th quarter worth about $129,000. Millennium Management LLC acquired a new stake in Cementos Pacasmayo S.A.A. during the 4th quarter worth about $167,000. LPL Financial LLC purchased a new position in Cementos Pacasmayo S.A.A. during the 4th quarter valued at about $155,000. Finally, BNP Paribas Financial Markets grew its stake in Cementos Pacasmayo S.A.A. by 6.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company’s stock valued at $179,000 after acquiring an additional 1,900 shares in the last quarter.

Analyst Ratings Changes

Several research firms have issued reports on CPAC. Zacks Research upgraded shares of Cementos Pacasmayo S.A.A. from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Scotiabank increased their price objective on Cementos Pacasmayo S.A.A. from $12.80 to $13.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Wall Street Zen raised Cementos Pacasmayo S.A.A. to a “buy” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded Cementos Pacasmayo S.A.A. from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.00.

Cementos Pacasmayo S.A.A. Trading Up 0.4%

Shares of Cementos Pacasmayo S.A.A. stock traded up $0.05 during trading on Monday, hitting $12.45. The stock had a trading volume of 74,336 shares, compared to its average volume of 44,756. Cementos Pacasmayo S.A.A. has a 1 year low of $6.25 and a 1 year high of $12.70. The stock has a 50 day simple moving average of $11.90 and a 200 day simple moving average of $11.07. The company has a quick ratio of 0.50, a current ratio of 1.22 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.06 billion, a PE ratio of 17.29 and a beta of 0.74.

Cementos Pacasmayo S.A.A. (NYSE:CPAC) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.12 by $0.14. Cementos Pacasmayo S.A.A. had a net margin of 9.42% and a return on equity of 16.49%. The business had revenue of $163.77 million during the quarter, compared to the consensus estimate of $156.89 million. On average, research analysts expect that Cementos Pacasmayo S.A.A. will post 0.91 EPS for the current fiscal year.

Cementos Pacasmayo S.A.A. Company Profile

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.