Cementos Pacasmayo S.A.A. (NYSE:CPAC) Sees Significant Increase in Short Interest

Key Points

• Short interest more than doubled to 43,731 shares as of August 31, up 123.4% from mid-August. Short interest represents 0.1% of outstanding shares, with a 1.1-day short-interest ratio.
• Institutional activity was generally positive, with BNP Paribas Financial Markets and Dimensional Fund Advisors increasing their holdings, while several other firms established new positions.
• CPAC shares fell 0.4% to $12.49 but remain near their 12-month high. The company exceeded quarterly earnings and revenue estimates, while analysts maintained a consensus “Hold” rating and a $13.00 price target.

Cementos Pacasmayo S.A.A. (NYSE:CPAC - Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 43,731 shares, a growth of 123.4% from the August 15th total of 19,572 shares. Based on an average trading volume of 41,499 shares, the short-interest ratio is currently 1.1 days. Currently, 0.1% of the company's stock are sold short.

Institutional Trading of Cementos Pacasmayo S.A.A.

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in Cementos Pacasmayo S.A.A. by 6.7% in the second quarter. BNP Paribas Financial Markets now owns 30,110 shares of the construction company's stock worth $179,000 after buying an additional 1,900 shares during the last quarter. LPL Financial LLC purchased a new stake in Cementos Pacasmayo S.A.A. in the fourth quarter worth approximately $155,000. Dimensional Fund Advisors LP boosted its stake in shares of Cementos Pacasmayo S.A.A. by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 91,754 shares of the construction company's stock worth $958,000 after buying an additional 6,054 shares during the last quarter. Millennium Management LLC bought a new position in Cementos Pacasmayo S.A.A. in the fourth quarter valued at about $167,000. Finally, Virtu Financial LLC purchased a new position in Cementos Pacasmayo S.A.A. in the fourth quarter worth about $129,000.

Cementos Pacasmayo S.A.A. Stock Down 0.4%

Shares of CPAC stock traded down $0.05 during trading hours on Monday, hitting $12.49. 2,814 shares of the company's stock traded hands, compared to its average volume of 43,537. 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 stock's fifty day simple moving average is $12.02 and its two-hundred day simple moving average is $11.20. Cementos Pacasmayo S.A.A. has a 12-month low of $6.25 and a 12-month high of $12.74. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 17.35 and a beta of 0.76.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings upgraded Cementos Pacasmayo S.A.A. from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 9th. Wall Street Zen raised Cementos Pacasmayo S.A.A. to a "buy" rating in a research note on Saturday, August 1st. Finally, Scotiabank increased their price objective on Cementos Pacasmayo S.A.A. from $12.80 to $13.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 21st. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $13.00.

Cementos Pacasmayo S.A.A. Company Profile

Cementos Pacasmayo SAA. is a Peru-based company engaged in the production, distribution and sale of cement and related construction materials. Its product portfolio includes cement, ready-mix concrete, mortar, concrete products, aggregates and quicklime, serving residential, commercial, industrial and infrastructure construction markets.

Founded in 1949, the company primarily serves northern and northeastern Peru through an integrated network of manufacturing plants, distribution facilities and sales channels.

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