Cemex S.A.B. de C.V. $CX Shares Acquired by Black Creek Investment Management Inc.

Key Points

• Black Creek Investment Management sharply increased its Cemex stake by 933.8% in the fourth quarter, ending with 2.8 million shares worth about $32.2 million.
• Cemex reported Q1 earnings of $0.16 per share, while analysts currently expect 0.91 EPS for the full fiscal year.
• The company raised its quarterly dividend to $0.0312 per share, bringing the annualized payout to $0.12 and the yield to about 1.0%.

Black Creek Investment Management Inc. lifted its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 933.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,798,783 shares of the construction company's stock after buying an additional 2,528,043 shares during the period. Cemex makes up about 1.6% of Black Creek Investment Management Inc.'s holdings, making the stock its 14th biggest holding. Black Creek Investment Management Inc. owned 0.19% of Cemex worth $32,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CX. Jones Financial Companies Lllp boosted its position in Cemex by 334.7% during the 1st 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 period. Goldman Sachs Group Inc. boosted its position in Cemex by 58.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company's stock worth $40,320,000 after purchasing an additional 2,661,030 shares during the period. Cetera Investment Advisers boosted its position in Cemex by 53.2% during the 2nd quarter. Cetera Investment Advisers now owns 57,269 shares of the construction company's stock worth $397,000 after purchasing an additional 19,878 shares during the period. Northwestern Mutual Wealth Management Co. boosted 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 during the period. Finally, Invesco Ltd. boosted its position in Cemex by 57.1% during the 2nd quarter. Invesco Ltd. now owns 50,480 shares of the construction company's stock worth $350,000 after purchasing an additional 18,348 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Cemex Stock Performance

NYSE:CX opened at $12.96 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63. The firm has a 50-day moving average of $12.43 and a two-hundred day moving average of $11.96. The stock has a market cap of $18.77 billion, a P/E ratio of 40.49 and a beta of 1.51. Cemex S.A.B. de C.V. has a 1-year low of $6.63 and a 1-year high of $13.67.

Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings data 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%. On average, research analysts expect that Cemex S.A.B. de C.V. will post 0.91 earnings per share for the current fiscal year.

Cemex Increases Dividend

The company also recently disclosed 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 represents a $0.12 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, June 17th. This is an increase from Cemex's previous quarterly dividend of $0.02. Cemex's dividend payout ratio is currently 37.50%.

Insider Activity at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total transaction of $425,600.00. Following the transaction, the insider owned 846,010 shares of the company's stock, valued at approximately $10,287,481.60. This trade represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

CX has been the subject of a number of research reports. Barclays reaffirmed an "overweight" rating on shares of Cemex in a research report on Thursday, March 12th. Santander raised shares of Cemex to an "outperform" rating in a research report on Thursday. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $12.75 price target on shares of Cemex in a research report on Friday, April 24th. Scotiabank upped their price objective on shares of Cemex from $13.90 to $14.10 and gave the company an "outperform" rating in a research report on Friday, April 10th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Cemex in a research report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.

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