Cemex (NYSE:CX) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of Cemex (NYSE:CX) from a hold rating to a strong sell rating in a report issued on Thursday morning,Zacks reports.

A number of other research analysts have also weighed in on CX. Wall Street Zen lowered Cemex from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Scotiabank raised their price objective on Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Royal Bank Of Canada lowered their price objective on Cemex from $13.50 to $13.25 and set a “sector perform” rating for the company in a research report on Friday, October 9th. Citigroup raised Cemex from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $13.70 to $12.00 in a research report on Thursday, October 15th. Finally, JPMorgan Chase & Co. upped their target price on Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.94.

Cemex Stock Up 0.9%

CX opened at $10.21 on Thursday. The business has a 50 day moving average price of $10.26 and a two-hundred day moving average price of $11.61. The company has a quick ratio of 0.68, a current ratio of 0.92 and a debt-to-equity ratio of 0.44. The company has a market cap of $14.78 billion, a PE ratio of 30.02 and a beta of 1.51. Cemex has a 52 week low of $9.30 and a 52 week high of $13.67.

Cemex (NYSE:CX) last announced its quarterly earnings data on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $4.59 billion for the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. As a group, research analysts anticipate that Cemex will post 0.89 EPS for the current year.

Cemex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Tuesday, September 15th were issued a $0.0312 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, September 15th. Cemex’s payout ratio is presently 35.29%.

Insider Buying and Selling

In related news, Director Zambrano Lozano purchased 400,800 shares of the firm’s stock in a transaction on Friday, September 25th. The shares were bought at an average price of $17.28 per share, for a total transaction of $6,925,824.00. Following the acquisition, the director directly owned 10,000,000 shares in the company, valued at $172,800,000. This trade represents a 4.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mauricio Doehner sold 927,900 shares of Cemex stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $9.57, for a total transaction of $8,880,003.00. Following the completion of the transaction, the executive vice president owned 584,930 shares in the company, valued at approximately $5,597,780.10. This trade represents a 61.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its stake in shares of Cemex by 10.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 21,224,097 shares of the construction company’s stock valued at $201,841,000 after purchasing an additional 1,951,012 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Cemex by 7.4% during the 1st quarter. Sei Investments Co. now owns 4,150,537 shares of the construction company’s stock worth $47,482,000 after purchasing an additional 287,350 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Cemex by 14.4% during the 1st quarter. Lazard Asset Management LLC now owns 4,046,527 shares of the construction company’s stock worth $46,292,000 after purchasing an additional 508,016 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Cemex by 1,747.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,646,000 shares of the construction company’s stock worth $41,710,000 after purchasing an additional 3,448,600 shares in the last quarter. Finally, Amundi increased its position in Cemex by 9.3% during the 1st quarter. Amundi now owns 3,115,879 shares of the construction company’s stock worth $35,646,000 after purchasing an additional 264,248 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Cemex Company Profile

Cemex, SAB. de C.V. is a global building materials company headquartered in San Pedro Garza García, Mexico. The company produces and markets cement, ready-mix concrete, aggregates and related construction materials used in residential, commercial and infrastructure projects.

Cemex also provides construction solutions and services, including materials distribution, logistics and digital tools designed to support contractors, builders and other customers. Its products serve a broad range of applications, from housing and commercial development to roads, bridges, airports and other major infrastructure.

Founded in Mexico in 1906, Cemex has expanded through organic growth and acquisitions into an international business serving customers across the Americas, Europe, Africa, the Middle East and Asia.