De La Garza Oscar Bal Elizondo Sells 212,680 Shares of Cemex (NYSE:CX) Stock

Key Points

• Cemex VP De La Garza Oscar Bal Elizondo sold 212,680 shares at an average price of $10.68, generating $2.27 million. His remaining ownership fell 42.35% to 289,490 shares.
• Cemex reported quarterly revenue of $4.59 billion and earnings of $0.24 per share; analysts expect $0.91 in full-year EPS. The company also raised its quarterly dividend to $0.0312, implying a 1.2% annualized yield.
• CX traded near $10.60, below its 50- and 200-day moving averages of $12.07, while analysts maintained a “Moderate Buy” consensus with a $13.07 average price target.

Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $10.68, for a total value of $2,271,422.40. Following the transaction, the vice president owned 289,490 shares in the company, valued at approximately $3,091,753.20. This trade represents a 42.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Cemex Stock Performance

Shares of NYSE CX traded down $0.06 during mid-day trading on Thursday, reaching $10.60. 10,131,524 shares of the company's stock were exchanged, compared to its average volume of 7,916,182. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.68. The firm has a 50-day moving average price of $12.07 and a two-hundred day moving average price of $12.07. Cemex S.A.B. de C.V. has a 52 week low of $8.59 and a 52 week high of $13.67. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 31.18 and a beta of 1.53.

Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The company 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%. Analysts predict that Cemex S.A.B. de C.V. will post 0.91 EPS for the current year.

Cemex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th were issued a $0.0312 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This is an increase from Cemex's previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.2%. Cemex's dividend payout ratio is 35.29%.

Institutional Investors Weigh In On Cemex

A number of large investors have recently added to or reduced their stakes in CX. Orbis Allan Gray Ltd raised its holdings in shares of Cemex by 3.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 36,132,733 shares of the construction company's stock valued at $415,165,000 after buying an additional 1,225,219 shares in the last quarter. Schroder Investment Management Group grew its position in Cemex by 406.2% during the fourth quarter. Schroder Investment Management Group now owns 26,348,884 shares of the construction company's stock valued at $302,749,000 after acquiring an additional 21,143,554 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Cemex by 11.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,191,754 shares of the construction company's stock worth $243,494,000 after acquiring an additional 2,182,666 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Cemex by 10.9% in the 4th quarter. Wellington Management Group LLP now owns 18,737,871 shares of the construction company's stock worth $215,298,000 after acquiring an additional 1,840,515 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cemex by 4.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 12,183,183 shares of the construction company's stock valued at $109,530,000 after purchasing an additional 499,504 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Cemex from $12.75 to $13.50 and gave the stock a "sector perform" rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their price target on Cemex from $14.50 to $15.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Santander upgraded shares of Cemex to an "outperform" rating in a research report on Thursday, June 11th. Wall Street Zen cut shares of Cemex from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Scotiabank upped their target price on shares of Cemex from $14.10 to $14.50 and gave the stock an "outperform" rating in a report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.07.

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.

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