American Century Companies Inc. Purchases 104,172 Shares of Cemex S.A.B. de C.V. $CX

Key Points

• American Century Companies Inc. has increased its holdings in Cemex S.A.B. de C.V. by 2.9% in Q1, now owning approximately 3.6 million shares valued at about $20.45 million.
• Cemex reported a quarterly EPS of $0.23, surpassing analyst estimates, with revenue of $4.13 billion for the quarter despite an estimated revenue of $4.20 billion.
• The firm has announced a quarterly dividend of $0.0224 per share, representing an annualized yield of 1.0% and a payout ratio of 7.84%.

American Century Companies Inc. lifted its position in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 2.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,645,959 shares of the construction company's stock after purchasing an additional 104,172 shares during the quarter. American Century Companies Inc. owned 0.25% of Cemex worth $20,454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Cemex in the 1st quarter worth about $29,000. Barclays PLC lifted its stake in shares of Cemex by 56.2% in the 4th quarter. Barclays PLC now owns 9,759 shares of the construction company's stock valued at $55,000 after acquiring an additional 3,510 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Cemex in the 4th quarter valued at about $59,000. Raiffeisen Bank International AG bought a new stake in shares of Cemex in the 4th quarter valued at about $59,000. Finally, Westfuller Advisors LLC bought a new stake in shares of Cemex in the 1st quarter valued at about $62,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CX shares. Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Barclays boosted their target price on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $8.10 to $10.50 in a research note on Tuesday. Finally, Wall Street Zen lowered Cemex from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Four 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $8.53.

Cemex Stock Up 1.8%

Shares of NYSE:CX traded up $0.17 during trading on Thursday, hitting $9.10. The stock had a trading volume of 12,265,420 shares, compared to its average volume of 12,883,972. Cemex S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $9.19. The company has a market capitalization of $13.18 billion, a PE ratio of 8.92, a PEG ratio of 0.96 and a beta of 1.40. The firm's fifty day moving average is $7.92 and its 200 day moving average is $6.82. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX - Get Free Report) last announced its earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.20 billion. Analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a $0.0224 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.09 annualized dividend and a dividend yield of 1.0%. Cemex's dividend payout ratio is currently 7.84%.

About Cemex

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.