Cemex S.A.B. de C.V. $CX Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its stake in Cemex S.A.B. de C.V. by 43.2% in Q1, selling over 1.5 million shares and now holds approximately 1.97 million shares valued at $11 million.
• Cemex reported earnings of $0.23 EPS in its last quarter, surpassing expectations, while revenues were $4.13 billion, slightly below analyst projections.
• The company plans to pay a quarterly dividend of $0.0224 per share on September 25, representing an annualized yield of 1.0%, with a payout ratio of 7.84%.

AQR Capital Management LLC lowered its holdings in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 43.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,971,524 shares of the construction company's stock after selling 1,502,034 shares during the quarter. AQR Capital Management LLC owned 0.14% of Cemex worth $11,060,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. increased its position in shares of Cemex by 10.6% in the first quarter. Advisors Asset Management Inc. now owns 743,774 shares of the construction company's stock valued at $4,173,000 after buying an additional 71,498 shares in the last quarter. Aprio Wealth Management LLC purchased a new stake in shares of Cemex in the 1st quarter worth about $129,000. Panagora Asset Management Inc. boosted its position in shares of Cemex by 119.9% in the 1st quarter. Panagora Asset Management Inc. now owns 1,906,747 shares of the construction company's stock worth $10,697,000 after buying an additional 1,039,569 shares in the last quarter. Orbis Allan Gray Ltd boosted its position in shares of Cemex by 115.6% in the 1st quarter. Orbis Allan Gray Ltd now owns 13,831,102 shares of the construction company's stock worth $77,592,000 after buying an additional 7,416,743 shares in the last quarter. Finally, Vident Advisory LLC boosted its position in shares of Cemex by 92.8% in the 1st quarter. Vident Advisory LLC now owns 119,027 shares of the construction company's stock worth $668,000 after buying an additional 57,279 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Cemex Trading Down 2.3%

Cemex stock opened at $9.18 on Thursday. The stock has a market cap of $13.30 billion, a PE ratio of 9.00, a P/E/G ratio of 1.52 and a beta of 1.43. The stock has a 50-day moving average price of $8.38 and a 200 day moving average price of $7.00. Cemex S.A.B. de C.V. has a 52 week low of $4.89 and a 52 week high of $9.55. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. The firm had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. Cemex had a return on equity of 6.89% and a net margin of 9.61%. Equities research analysts predict that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th will be paid a dividend of $0.0224 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.0%. Cemex's dividend payout ratio is currently 7.84%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Cemex from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $8.10 to $10.50 in a research report on Tuesday, August 26th. Barclays boosted their price objective on shares of Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Scotiabank reiterated an "outperform" rating on shares of Cemex in a research report on Tuesday, September 2nd. Bank of America lifted their price objective on Cemex from $8.60 to $10.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $9.02.

Cemex Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.

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