Cemex S.A.B. de C.V. $CX Stock Position Trimmed by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its Cemex stake by 54% in the first quarter, selling 257,254 shares and retaining 219,218 shares valued at approximately $2.5 million. Institutional investors collectively own 82.97% of the company.
• Cemex reported quarterly revenue of $4.59 billion and earnings of $0.24 per share, while analysts expect $0.91 in full-year EPS. The company also increased its quarterly dividend to $0.0312 per share, equivalent to a 1.1% yield.
• Analyst sentiment remains generally positive, with seven Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $13.07, above the stock’s reported $11.06 opening price.

Royal Bank of Canada trimmed its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 54.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 219,218 shares of the construction company's stock after selling 257,254 shares during the period. Royal Bank of Canada's holdings in Cemex were worth $2,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CX. WealthCollab LLC raised its holdings in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock valued at $26,000 after buying an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cemex by 256.7% in 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. NFSG Corp raised its stake in Cemex by 123.5% during the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company's stock valued at $33,000 after acquiring an additional 1,579 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Cemex during the 4th quarter worth $34,000. Finally, Militia Capital Partners LP acquired a new position in Cemex during the 2nd quarter worth $46,000. Institutional investors own 82.97% of the company's stock.

Cemex Trading Up 0.0%

Shares of NYSE:CX opened at $11.06 on Monday. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 32.55 and a beta of 1.53. Cemex S.A.B. de C.V. has a 1-year low of $8.44 and a 1-year high of $13.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.92. The company has a 50 day moving average price of $12.19 and a 200 day moving average price of $12.13.

Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%.The company had revenue of $4.59 billion for the quarter. On average, research analysts anticipate 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 Monday, June 29th. Investors of record on Wednesday, June 17th were issued a $0.0312 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, June 17th. This is a positive change from Cemex's previous quarterly dividend of $0.02. Cemex's payout ratio is presently 35.29%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CX shares. Royal Bank Of Canada raised their price target on Cemex from $12.75 to $13.50 and gave the company a "sector perform" rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Cemex from $14.50 to $15.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Scotiabank upped their price objective on shares of Cemex from $14.10 to $14.50 and gave the stock an "outperform" rating in a report on Tuesday, July 14th. Wall Street Zen lowered shares of Cemex from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Santander raised shares of Cemex to an "outperform" rating in a research note on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.07.

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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