Capital Wealth Planning LLC Purchases 282,149 Shares of Cemex S.A.B. de C.V. $CX

Key Points

• Capital Wealth Planning LLC boosted its Cemex stake by 137.2% in the fourth quarter, buying 282,149 additional shares and bringing its total holding to 487,739 shares worth about $5.64 million.
• Cemex shares were down 2.0% in Thursday trading to $11.84, with the stock trading between a 52-week low of $6.63 and high of $13.67.
• The company raised its quarterly dividend to $0.0312 per share, up from $0.02, while analysts currently rate the stock a consensus Moderate Buy with a $12.77 target price.

Capital Wealth Planning LLC lifted its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 137.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 487,739 shares of the construction company's stock after acquiring an additional 282,149 shares during the period. Capital Wealth Planning LLC's holdings in Cemex were worth $5,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CX. WealthCollab LLC increased its position in Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock worth $26,000 after purchasing an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock worth $30,000 after purchasing an additional 3,093 shares in the last quarter. Ameriflex Group Inc. increased its position in Cemex by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company's stock worth $31,000 after purchasing an additional 1,744 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new position in Cemex during the 3rd quarter worth approximately $36,000. Finally, Militia Capital Partners LP acquired a new position in Cemex during the 2nd quarter worth approximately $46,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Cemex Trading Down 2.0%

Shares of NYSE CX opened at $11.84 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.63 and a current ratio of 0.87. Cemex S.A.B. de C.V. has a 52-week low of $6.63 and a 52-week high of $13.67. The firm has a 50 day moving average price of $12.38 and a two-hundred day moving average price of $11.94. The stock has a market cap of $17.16 billion, a P/E ratio of 37.01 and a beta of 1.51.

Cemex (NYSE:CX - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The construction company reported $0.16 earnings per share (EPS) for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. As a group, equities analysts forecast that Cemex S.A.B. de C.V. will post 0.91 EPS for the current year.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be given a $0.0312 dividend. This is an increase from Cemex's previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, June 17th. This represents a $0.12 annualized dividend and a yield of 1.1%. Cemex's dividend payout ratio is currently 37.50%.

Insider Transactions at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the company's 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 directly owned 846,010 shares of the company's stock, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Cemex from an "equal weight" rating to an "overweight" rating and set a $14.00 price objective for the company in a research report on Monday, March 23rd. Barclays reiterated an "overweight" rating on shares of Cemex in a research report on Thursday, March 12th. JPMorgan Chase & Co. upped their price objective on shares of Cemex from $14.00 to $14.50 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Finally, Scotiabank upped their price objective on shares of Cemex from $13.90 to $14.10 and gave the stock an "outperform" rating in a research report on Friday, April 10th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cemex has an average rating of "Moderate Buy" and a consensus target price of $12.77.

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.

Want to see what other hedge funds are holding CX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cemex S.A.B. de C.V. (NYSE:CX - Free Report).

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.