Olakunle Alake, a non-executive director at Dangote Cement Plc, has acquired 2 million units of the company’s shares, valued at approximately N1.02 billion.
The transaction was disclosed in a share dealing notice recently filed with the Nigerian Exchange (NGX) and signed by Edward Imoedemhe, the acting company secretary.
According to the filing, the shares were purchased at a market price of N511 each on 31 July 2025, under the identification code NGDANGCEM008.
Before the purchase, Alake held 10 million units, representing 2.38% of the total 419.9 million director shareholdings declared in the company’s Q2 2025 report.
With this latest acquisition, his stake rises to 12 million units, equivalent to 2.86% of the total director’s shareholding. Among individual directors, he is now the second-largest shareholder, behind Aliko Dangote, who holds 27.6 million units (6.58%).
At N511 per share, Alake’s entry appears to take advantage of a pullback near the N500 level, aligning with the stock’s long-term upward trend.
Dangote Cement is on a long-term uptrend in the Nigerian stock market, having recorded a high of N763 in January 2024.
However, the stock entered a retracement phase from February 2024, declining steadily throughout the year and reaching a low of N394 by January 2025.
A bullish correction in mid-July 2025 sparked a rebound, allowing the stock to break above a key weekly resistance level at N480 and climb further to N528.30 by the week ended August 1, 2025.
The renewed momentum appears to be driven by investor reaction to the company’s robust second-quarter performance.
At a reference price of N528.30, analysts at Cordros maintain a ‘Hold’ recommendation on the stock, with a price target of N604.91.
Analysts at Cordros Securities recently updated their outlook on Dangote Cement Plc (DANGCEM) following the company’s strong performance in the first half of 2025.
The revision reflects improved cost management and stronger profit growth.
As revealed by Cordros, DANGCEM is trading at 8.6 times its expected 2025 earnings and 5.5 times EV/EBITDA at a share price of NGN528.30, suggesting the stock is still fairly priced given its outlook.
While valuations remain attractive, the analysts noted that the upside is now limited to just 14.5% from their reference price of N528.30, following recent gains.
Nevertheless, income potential remains strong, with a projected dividend of N50.00 per share in 2025, implying a 9.5% yield at current levels.
Nevertheless, income potential remains strong, with a projected dividend of N50.00 per share in 2025, implying a 9.5% yield at current levels.