Holcim Ltd (OTCMKTS:HCMLY) sees sharp drop in short-term interest

Holcim Ltd (OTCMKTS:HCMLY – Get Rating) benefited from a sharp drop in short-term interest rates during the month of June. As of June 15, there was short interest totaling 55,200 shares, down 47.3% from the May 31 total of 104,800 shares. Based on an average daily volume of 420,100 shares, the day-to-cover ratio is currently 0.1 day.

Several stock analysts have weighed in on the company recently. JPMorgan Chase & Co. raised its price target on Holcim from CHF52 to CHF55 in a Thursday, March 3 research report. UBS Group downgraded Holcim from a “buy” rating to a “neutral” rating in a research report on Monday. Morgan Stanley raised its price target on Holcim from CHF 57 to CHF 58 and gave the company an “overweight” rating in a Monday, April 25 research report. Barclays raised its price target on Holcim from CHF 45 to CHF 50 and gave the company an “equal weight” rating in a report on Wednesday May 18. Finally, Credit Suisse Group raised its price target on Holcim from CHF 55 to CHF 58 and gave the company an “outperforming” rating in a Monday, April 25 report. One research analyst gave the stock a sell rating, five gave the company a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $54.50.

Shares of HCMLY traded down $0.03 during Friday’s midday session, hitting $8.48. The stock recorded trading volume of 112,344 shares, compared to an average trading volume of 154,787. Holcim has a 12-month low of $8.32 and a 12-month high of $11.96. The company’s 50-day moving average is $9.50 and its two-hundred-day moving average is $9.90.

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The company also recently announced a dividend, which was paid on Friday, May 27. Shareholders of record on Tuesday, May 10 received a dividend of $0.4148. This represents a dividend yield of 4.26%. The ex-dividend date was Monday, May 9.

About Holcim (Get an evaluation)

Holcim Ltd, together with its subsidiaries, operates as a building materials and solutions company in Asia-Pacific, Europe, Latin America, the Middle East, Africa and North America. It operates through four segments: Cement, Aggregates, Ready-Mixed Concrete and Solutions & Products. The company offers cement, hydraulic binders, clinker and other cementitious materials; aggregates, such as crushed stone, gravel and sand; and ready-mixed concrete, precast concrete products, asphalts and mortars.

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