Cemex S.A.B. de C.V. $CX Shares Purchased by Employees Retirement System of Texas

Key Points

• Employees Retirement System of Texas boosted its Cemex stake by 130% in the fourth quarter, ending with 453,092 shares valued at about $5.2 million.
• Cemex reported quarterly EPS of $0.16, and analysts currently expect full-year earnings of $0.91 per share. The stock also recently paid a slightly higher quarterly dividend of $0.0225 per share, up from $0.02.
• Sentiment on the stock is mixed: Cemex has a Moderate Buy consensus rating with an average target price of $12.77, while one insider recently sold 35,000 shares. The shares were trading around $13.22, near their 52-week high.

Employees Retirement System of Texas lifted its stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 130.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 453,092 shares of the construction company's stock after acquiring an additional 256,133 shares during the quarter. Employees Retirement System of Texas' holdings in Cemex were worth $5,206,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its holdings 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 buying an additional 7,075 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 2,661,030 shares in the last quarter. Cetera Investment Advisers lifted its holdings 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 buying an additional 19,878 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings 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 buying an additional 3,093 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings 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 buying an additional 18,348 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Cemex Trading Up 0.9%

Shares of CX stock opened at $13.22 on Thursday. The business's fifty day moving average price is $11.97 and its 200 day moving average price is $11.77. Cemex S.A.B. de C.V. has a 1-year low of $6.63 and a 1-year high of $13.67. The firm has a market capitalization of $19.16 billion, a PE ratio of 41.33 and a beta of 1.51. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63.

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

Cemex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.0225 per share. The ex-dividend date was Wednesday, March 11th. This is an increase from Cemex's previous quarterly dividend of $0.02. This represents a $0.09 annualized dividend and a yield of 0.7%. Cemex's dividend payout ratio (DPR) is currently 28.13%.

Analysts Set New Price Targets

CX has been the topic of a number of analyst reports. Barclays reaffirmed an "overweight" rating on shares of Cemex in a research report on Thursday, March 12th. Wall Street Zen upgraded shares of Cemex from a "hold" rating to a "buy" rating in a research note on Saturday, May 23rd. Scotiabank lifted their price target on shares of Cemex from $13.90 to $14.10 and gave the stock an "outperform" rating in a research note on Friday, April 10th. HSBC lowered Cemex from a "buy" rating to a "hold" rating and set a $12.80 target price on the stock. in a report on Friday, February 6th. Finally, Zacks Research lowered Cemex from a "strong-buy" rating to a "hold" rating in a report on Monday, February 9th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.77.

Insiders Place Their Bets

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the company's 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 directly owned 846,010 shares in the company, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company's stock.

Cemex Company 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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