Zacks Investment Research downgraded shares of Cementos Pacasmayo (NYSE:CPAC) from a hold rating to a sell rating in a report released on Tuesday.
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. “
Other equities analysts have also recently issued reports about the stock. UBS Group raised shares of Cementos Pacasmayo from a sell rating to a neutral rating in a research note on Monday, June 25th. ValuEngine cut shares of Cementos Pacasmayo from a hold rating to a sell rating in a research note on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Cementos Pacasmayo currently has an average rating of Hold and an average target price of $12.50.
The business also recently declared a special dividend, which will be paid on Thursday, December 6th. Stockholders of record on Friday, November 9th will be paid a dividend of $0.5713 per share. The ex-dividend date is Thursday, November 8th. This is a boost from Cementos Pacasmayo’s previous special dividend of $0.35. This represents a dividend yield of 5.17%. Cementos Pacasmayo’s dividend payout ratio is 156.25%.
About Cementos Pacasmayo
Cementos Pacasmayo SAA., a cement company, produces, distributes, and sells cement and cement-related materials in the northern region of Peru. The company operates in three segments: Cement, Concrete and Blocks; Quicklime; and Sales of Construction Supplies. It produces cement for various uses, such as residential and commercial construction, and civil engineering; ready-mix concrete used in large construction sites; concrete blocks, such as paving units or paver stones for pedestrian walkways, as well as other bricks for partition walls and concrete blocks for structural and non-structural uses; and cement based products, including assembly gravity walls, beams and vaults, precast beams, sheet piles, seawalls, and piles, as well as bathroom and housing units.
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