Cemex S.A.B. de C.V. $CX Shares Sold by Strs Ohio

Strs Ohio trimmed its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 6.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,702,431 shares of the construction company’s stock after selling 250,880 shares during the quarter. Strs Ohio’s holdings in Cemex were worth $42,356,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted 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 during the period. TT International Asset Management LTD acquired a new position in shares of Cemex during the fourth quarter valued at $2,781,000. Dorsey Wright & Associates bought a new stake in shares of Cemex during the third quarter valued at about $1,402,000. Dodge & Cox raised its stake in shares of Cemex by 1.8% during the third quarter. Dodge & Cox now owns 96,734,370 shares of the construction company’s stock valued at $869,642,000 after purchasing an additional 1,710,535 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Cemex by 66.8% in the third quarter. Schroder Investment Management Group now owns 5,205,330 shares of the construction company’s stock worth $46,796,000 after purchasing an additional 2,084,365 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total transaction of $425,600.00. Following the completion of the sale, the insider directly owned 846,010 shares in the company, valued at approximately $10,287,481.60. This trade represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CX. Santander upgraded shares of Cemex to an “outperform” rating in a research report on Thursday, June 11th. Barclays reaffirmed an “overweight” rating on shares of Cemex in a research note on Thursday, March 12th. JPMorgan Chase & Co. increased their price objective on shares of Cemex from $14.00 to $14.50 and gave the company an “overweight” rating in a report on Friday, April 24th. Scotiabank raised their price objective on shares of Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a research note on Friday, April 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.77.

Cemex Trading Down 0.2%

Shares of CX stock opened at $12.27 on Friday. The stock has a 50-day simple moving average of $12.64 and a 200 day simple moving average of $12.13. Cemex S.A.B. de C.V. has a fifty-two week low of $7.12 and a fifty-two week high of $13.67. The stock has a market capitalization of $17.77 billion, a P/E ratio of 38.34 and a beta of 1.52. 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 issued its quarterly earnings results on Tuesday, March 31st. The construction company reported $0.16 EPS for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. On average, sell-side analysts expect that Cemex S.A.B. de C.V. will post 0.91 earnings per share for the current fiscal year.

Cemex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were paid a dividend of $0.0312 per share. This is a boost from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 17th. Cemex’s dividend payout ratio (DPR) is currently 37.50%.

Cemex Profile

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.