Calamos Advisors LLC Decreases Stock Holdings in Cemex S.A.B. de C.V. $CX

Key Points

• Calamos Advisors LLC cut its Cemex stake by 44.7% in the first quarter, selling 79,100 shares and leaving it with 97,705 shares valued at about $1.12 million.
• Several analysts turned more positive on Cemex, including upgrades from Wall Street Zen, Morgan Stanley, and Santander; the stock now has a Moderate Buy consensus with an average price target of $12.87.
• Cemex reported insider selling and a dividend increase: insider Herrera Jesus Vicente Gonzalez sold 35,000 shares, while the company raised its quarterly dividend to $0.0312 from $0.02.

Calamos Advisors LLC lowered its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 44.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,705 shares of the construction company's stock after selling 79,100 shares during the quarter. Calamos Advisors LLC's holdings in Cemex were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WealthCollab LLC lifted its position in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock valued at $26,000 after buying an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock valued at $30,000 after acquiring an additional 3,093 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Cemex in the fourth quarter valued at approximately $34,000. Militia Capital Partners LP acquired a new stake in Cemex in the second quarter valued at approximately $46,000. Finally, Jones Financial Companies Lllp grew its holdings in Cemex by 334.7% in the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company's stock worth $52,000 after purchasing an additional 7,075 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Morgan Stanley upgraded Cemex from an "equal weight" rating to an "overweight" rating and set a $14.00 target price on the stock in a research note on Monday, March 23rd. Scotiabank upped their target price on Cemex from $14.10 to $14.50 and gave the company an "outperform" rating in a research report on Tuesday. Santander upgraded Cemex to an "outperform" rating in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $12.75 price target on shares of Cemex in a report on Friday, April 24th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Cemex has a consensus rating of "Moderate Buy" and an average price target of $12.87.

Insider Activity at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total value of $425,600.00. Following the sale, the insider owned 846,010 shares in the company, valued at $10,287,481.60. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Cemex Trading Up 0.1%

Cemex stock opened at $13.08 on Friday. 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 S.A.B. de C.V. has a 52 week low of $7.34 and a 52 week high of $13.67. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of 40.88 and a beta of 1.52. The stock has a 50-day moving average price of $12.63 and a 200 day moving average price of $12.19.

Cemex (NYSE:CX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The construction company reported $0.16 earnings per share for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. Sell-side analysts anticipate that Cemex S.A.B. de C.V. will post 0.89 EPS for the current year.

Cemex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th were issued a $0.0312 dividend. This is an increase from Cemex's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.12 annualized dividend and a dividend yield of 1.0%. Cemex's payout ratio 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.

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