Advisors Asset Management Inc. Purchases 71,498 Shares of Cemex S.A.B. de C.V. $CX

Key Points

• Advisors Asset Management Inc. increased its stake in Cemex S.A.B. de C.V. by 10.6%, acquiring an additional 71,498 shares during the first quarter, bringing its total ownership to 743,774 shares valued at approximately $4.17 million.
• Cemex's stock opened at $9.42, reflecting a market capitalization of $13.64 billion, with a PE ratio of 9.23 and a projected EPS of 0.69 for the current year.
• The company recently declared a quarterly dividend of $0.0224 per share, resulting in an annualized yield of 1.0% and a dividend payout ratio of 7.84%.

Advisors Asset Management Inc. grew its position in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 10.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 743,774 shares of the construction company's stock after buying an additional 71,498 shares during the period. Advisors Asset Management Inc. owned 0.05% of Cemex worth $4,173,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in Cemex in the first quarter valued at about $29,000. Barclays PLC lifted its position in Cemex by 56.2% during the 4th quarter. Barclays PLC now owns 9,759 shares of the construction company's stock valued at $55,000 after purchasing an additional 3,510 shares during the period. Raiffeisen Bank International AG acquired a new position in Cemex during the 4th quarter valued at about $59,000. Westfuller Advisors LLC bought a new position in shares of Cemex in the 1st quarter valued at about $62,000. Finally, Sargent Investment Group LLC acquired a new stake in shares of Cemex during the 1st quarter worth approximately $62,000. Institutional investors own 82.97% of the company's stock.

Cemex Trading Up 3.2%

NYSE:CX traded up $0.30 on Thursday, reaching $9.48. The company's stock had a trading volume of 9,536,622 shares, compared to its average volume of 11,374,110. Cemex S.A.B. de C.V. has a 1-year low of $4.89 and a 1-year high of $9.55. The business's 50-day moving average price is $8.43 and its two-hundred day moving average price is $7.02. The firm has a market cap of $13.73 billion, a PE ratio of 9.29, a PEG ratio of 1.48 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86.

Cemex (NYSE:CX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The business had revenue of $4.13 billion for the quarter, compared to analysts' expectations of $4.20 billion. Equities research analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th will be issued a $0.0224 dividend. This represents a $0.09 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, September 17th. Cemex's dividend payout ratio is 8.82%.

Analyst Ratings Changes

Several brokerages recently weighed in on CX. Bank of America increased their price objective on shares of Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded shares of Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and increased their price target for the company from $8.10 to $10.50 in a research note on Tuesday, August 26th. Scotiabank reaffirmed an "outperform" rating on shares of Cemex in a research note on Tuesday, September 2nd. Finally, Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cemex has an average rating of "Hold" and a consensus price target of $9.02.

Cemex Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.