Cemex S.A.B. de C.V. $CX Stock Position Lowered by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its Cemex stake by 5.3% in the third quarter, selling 299,983 shares and retaining 5.31 million shares valued at approximately $50.5 million. Institutional investors and hedge funds collectively own 82.97% of the company.
• Analyst sentiment remains positive overall: seven analysts rate Cemex a Buy and four rate it Hold, producing a “Moderate Buy” consensus and an average price target of $13.42.
• Cemex opened at $9.57, near its 52-week low, while reporting quarterly revenue of $4.59 billion and earnings of $0.24 per share. The company also paid a quarterly dividend of $0.0312 per share, equivalent to a 1.3% yield.

Perpetual Ltd reduced its position in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,312,248 shares of the construction company's stock after selling 299,983 shares during the period. Perpetual Ltd owned 0.37% of Cemex worth $50,519,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in Cemex in the second quarter valued at approximately $683,000. Charles Schwab Trust Co acquired a new stake in shares of Cemex in the second quarter valued at approximately $132,000. Contravisory Investment Management Inc. purchased a new position in shares of Cemex during the second quarter worth approximately $277,000. Dynamic Advisor Solutions LLC grew its position in shares of Cemex by 17.5% during the second quarter. Dynamic Advisor Solutions LLC now owns 42,732 shares of the construction company's stock worth $513,000 after acquiring an additional 6,368 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Cemex by 15.7% during the first quarter. Parallel Advisors LLC now owns 20,119 shares of the construction company's stock worth $230,000 after acquiring an additional 2,729 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Cemex from $14.50 to $15.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Scotiabank increased their price target on shares of Cemex from $14.10 to $14.50 and gave the stock an "outperform" rating in a research note on Tuesday, July 14th. Barclays raised their price objective on shares of Cemex from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Weiss Ratings reissued a "hold (c-)" rating on shares of Cemex in a research report on Friday, August 21st. Finally, Wall Street Zen lowered shares of Cemex from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $13.42.

Cemex Stock Up 0.2%

CX opened at $9.57 on Tuesday. Cemex S.A.B. de C.V. has a 52 week low of $9.10 and a 52 week high of $13.67. The business has a 50 day moving average price of $10.48 and a two-hundred day moving average price of $11.68. The company has a quick ratio of 0.68, a current ratio of 0.92 and a debt-to-equity ratio of 0.44. The company has a market cap of $13.87 billion, a PE ratio of 28.16 and a beta of 1.51.

Cemex (NYSE:CX - Get Free Report) last announced its earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share for the quarter. The company had revenue of $4.59 billion for the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%. As a group, research analysts anticipate that Cemex S.A.B. de C.V. will post 0.91 EPS for the current year.

Cemex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Tuesday, September 15th were issued a dividend of $0.0312 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 1.3%. Cemex's dividend payout ratio (DPR) is currently 35.29%.

Insider Buying and Selling

In other Cemex news, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $10.68, for a total value of $2,271,422.40. Following the transaction, the vice president directly owned 289,490 shares of the company's stock, valued at approximately $3,091,753.20. The trade was a 42.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Zambrano Lozano acquired 400,800 shares of the business's stock in a transaction on Friday, September 25th. The shares were purchased at an average price of $17.28 per share, with a total value of $6,925,824.00. Following the transaction, the director owned 10,000,000 shares in the company, valued at $172,800,000. The trade was a 4.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.00% of the company's stock.

Cemex Profile

CEMEX, SAB. de C.V. is a global building materials company headquartered in San Pedro Garza García, Mexico. The company produces, distributes and sells cement, ready-mix concrete, aggregates and related construction materials used in residential, commercial and infrastructure projects.

CEMEX also provides construction solutions and services, including concrete products, paving materials, building systems and digital tools designed to support construction professionals and customers. Its operations and commercial activities serve markets across Mexico, the United States, Europe, South and Central America, the Caribbean, Africa and the Middle East.

The company traces its origins to 1906, when Cementos Hidalgo began operations in Mexico.

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