American Century Companies Inc. Sells 437,083 Shares of Cemex S.A.B. de C.V. $CX

Key Points

• American Century Companies trimmed its Cemex stake by 10.9%, selling 437,083 shares and now holding 3,561,788 shares (about 0.25% of the company) valued at roughly $32.02 million.
• Cemex missed EPS expectations for the quarter (loss of $0.19 vs. $0.19 expected) despite revenue topping estimates, and raised its quarterly dividend to $0.0225 (annualized $0.09, ~0.8% yield).
• Analyst coverage is mixed with a consensus rating of "Hold" and an average target price of $11.04, although individual price targets and ratings vary (e.g., Barclays $15.00, some downgrades to Hold).

American Century Companies Inc. lessened its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 10.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,561,788 shares of the construction company's stock after selling 437,083 shares during the quarter. American Century Companies Inc. owned approximately 0.25% of Cemex worth $32,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Cemex in the third quarter valued at $3,555,000. Diversify Wealth Management LLC bought a new position in Cemex in the 3rd quarter valued at $1,124,000. US Bancorp DE boosted its holdings in Cemex by 39.4% in the third quarter. US Bancorp DE now owns 11,041 shares of the construction company's stock valued at $99,000 after acquiring an additional 3,119 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Cemex in the 3rd quarter valued at about $958,000. Finally, Compound Planning Inc. boosted its stake in Cemex by 12.9% in the third quarter. Compound Planning Inc. now owns 32,054 shares of the construction company's stock valued at $288,000 after acquiring an additional 3,656 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CX. Scotiabank increased their target price on shares of Cemex from $11.10 to $13.50 and gave the stock a "sector perform" rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cemex in a research report on Wednesday, January 21st. 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. Zacks Research cut Cemex from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 9th. Finally, Barclays restated an "overweight" rating and set a $15.00 target price on shares of Cemex in a research note on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $11.04.

Cemex Stock Performance

Shares of Cemex stock opened at $10.93 on Friday. The company has a 50 day moving average of $12.35 and a 200-day moving average of $10.78. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.33. Cemex S.A.B. de C.V. has a 1-year low of $4.89 and a 1-year high of $13.35. The company has a market cap of $15.84 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 0.74 and a beta of 1.60.

Cemex (NYSE:CX - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The construction company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.38). Cemex had a net margin of 5.93% and a return on equity of 2.85%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.01 billion. As a group, equities research analysts forecast that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Wednesday, March 11th will be issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Cemex's previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Wednesday, March 11th. Cemex's dividend payout ratio (DPR) is currently 13.64%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.