Loma Negra Compania Industrial Argentina (NYSE:LOMA) Trading Down 7.6% - Here's What Happened

Key Points

• Loma Negra Compania Industrial Argentina's shares fell by 7.6% to $11.40, with trading volume down 21% from average levels.
• Analysts have a consensus rating of "Moderate Buy" for Loma Negra, with an average price target of $14.80, reflecting a positive outlook despite recent stock performance.
• Institutional investors have increased their holdings significantly, with notable purchases including INCA Investments LLC boosting its stake by 147.2%.

Shares of Loma Negra Compania Industrial Argentina S.A. Sponsored ADR (NYSE:LOMA - Get Free Report) dropped 7.6% during trading on Friday . The company traded as low as $11.48 and last traded at $11.40. Approximately 304,786 shares changed hands during trading, a decline of 21% from the average daily volume of 384,912 shares. The stock had previously closed at $12.33.

Analysts Set New Price Targets

LOMA has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Loma Negra Compania Industrial Argentina from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Itau BBA Securities raised shares of Loma Negra Compania Industrial Argentina from a "market perform" rating to an "outperform" rating and set a $14.20 price objective on the stock in a research note on Monday, May 12th. Morgan Stanley raised shares of Loma Negra Compania Industrial Argentina from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $13.00 to $15.00 in a research note on Tuesday, May 20th. Citigroup began coverage on shares of Loma Negra Compania Industrial Argentina in a research note on Wednesday, June 18th. They issued a "buy" rating and a $16.00 price objective on the stock. Finally, Bank of America raised shares of Loma Negra Compania Industrial Argentina from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $11.50 to $14.00 in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Loma Negra Compania Industrial Argentina presently has an average rating of "Moderate Buy" and an average target price of $14.80.

Loma Negra Compania Industrial Argentina Stock Performance

The company's 50 day moving average price is $11.40 and its 200-day moving average price is $11.39. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 20.38 and a beta of 1.01.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LOMA. Fourth Sail Capital LP purchased a new position in shares of Loma Negra Compania Industrial Argentina in the first quarter worth approximately $14,735,000. INCA Investments LLC increased its position in shares of Loma Negra Compania Industrial Argentina by 147.2% in the first quarter. INCA Investments LLC now owns 1,860,276 shares of the company's stock worth $20,444,000 after acquiring an additional 1,107,669 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Loma Negra Compania Industrial Argentina by 89.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,387,794 shares of the company's stock worth $16,570,000 after acquiring an additional 655,533 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Loma Negra Compania Industrial Argentina in the first quarter worth approximately $4,161,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Loma Negra Compania Industrial Argentina in the fourth quarter worth approximately $4,516,000. 19.32% of the stock is owned by hedge funds and other institutional investors.

Loma Negra Compania Industrial Argentina Company Profile

Loma Negra Compañía Industrial Argentina Sociedad Anónima, together with its subsidiaries, manufactures and sells cement and its derivatives in Argentina. The company operates through Cement, Masonry Cement and Lime; Concrete; Railroad; Aggregates; and Others segments. It offers masonry cement, aggregates, ready-mix concrete, concrete, and lime to wholesale distributors, concrete producers, industrial customers, and others for use in the construction.