Cemex S.A.B. de C.V. $CX Shares Sold by IPG Investment Advisors LLC

IPG Investment Advisors LLC reduced its position in Cemex S.A.B. de C.V. (NYSE:CX) by 75.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,273 shares of the construction company’s stock after selling 970,810 shares during the period. IPG Investment Advisors LLC’s holdings in Cemex were worth $3,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Cemex by 84.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,529,612 shares of the construction company’s stock worth $40,721,000 after acquiring an additional 2,080,341 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in Cemex during the 3rd quarter worth approximately $1,124,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Cemex by 84.4% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 195,439 shares of the construction company’s stock worth $1,757,000 after acquiring an additional 89,465 shares in the last quarter. WCM Investment Management LLC acquired a new position in Cemex during the 3rd quarter worth approximately $48,699,000. Finally, Allianz Asset Management GmbH acquired a new position in Cemex during the 3rd quarter worth approximately $1,059,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total value of $425,600.00. Following the transaction, the insider directly owned 846,010 shares of the company’s stock, valued at $10,287,481.60. This represents a 3.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CX has been the topic of several recent research reports. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Scotiabank boosted their price target on Cemex from $13.90 to $14.10 and gave the stock an “outperform” rating in a research report on Friday, April 10th. Barclays reissued an “overweight” rating on shares of Cemex in a research report on Thursday, March 12th. Zacks Research lowered Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, HSBC lowered Cemex from a “buy” rating to a “hold” rating and set a $12.80 price target on the stock. in a research report on Friday, February 6th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.77.

Cemex Stock Performance

Shares of CX opened at $13.22 on Thursday. The business’s 50 day moving average is $11.97 and its two-hundred day moving average is $11.77. Cemex S.A.B. de C.V. has a 52-week low of $6.63 and a 52-week high of $13.67. The firm has a market cap of $19.16 billion, a price-to-earnings ratio of 41.33 and a beta of 1.51. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.35.

Cemex (NYSE:CX) last announced its earnings results on Tuesday, March 31st. The construction company reported $0.16 earnings per share (EPS) for the quarter. Cemex had a return on equity of 3.64% and a net margin of 2.74%. Analysts forecast that Cemex S.A.B. de C.V. will post 0.91 EPS for the current fiscal year.

Cemex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Wednesday, March 11th were given a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, March 11th. This is a positive change from Cemex’s previous quarterly dividend of $0.02. Cemex’s dividend payout ratio is currently 28.13%.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.