Cemex S.A.B. de C.V. (NYSE:CX) Shares Sold by Choreo LLC

Key Points

• Choreo LLC reduced its stake in Cemex by 63.9%, selling 30,400 shares and holding 17,161 shares valued at $96,000.
• Cemex's stock traded down 3.7% recently, with a current price of $8.38 and a market cap of $12.14 billion.
• The company has a dividend yield of 1.1%, recently distributing a quarterly dividend of $0.0224 per share.

Choreo LLC decreased its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 63.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,161 shares of the construction company's stock after selling 30,400 shares during the period. Choreo LLC's holdings in Cemex were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in Cemex in the first quarter valued at approximately $29,000. Barclays PLC lifted its holdings in shares of Cemex by 56.2% during the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company's stock worth $55,000 after purchasing an additional 3,510 shares during the period. Townsquare Capital LLC bought a new position in Cemex during the fourth quarter worth $57,000. Dark Forest Capital Management LP bought a new position in Cemex during the fourth quarter worth $59,000. Finally, Raiffeisen Bank International AG bought a new position in Cemex during the fourth quarter worth $59,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Cemex Stock Performance

CX stock traded up $0.13 during midday trading on Tuesday, reaching $8.34. 6,768,703 shares of the company's stock traded hands, compared to its average volume of 13,019,462. The stock's 50-day moving average is $7.31 and its 200 day moving average is $6.51. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The stock has a market cap of $12.08 billion, a P/E ratio of 8.17, a PEG ratio of 0.90 and a beta of 1.40. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $8.79.

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

Cemex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were given a dividend of $0.0224 per share. The ex-dividend date was Tuesday, June 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.1%. Cemex's dividend payout ratio is currently 7.84%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Itau BBA Securities downgraded shares of Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Wall Street Zen cut shares of Cemex from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. JPMorgan Chase & Co. boosted their target price on shares of Cemex from $6.00 to $6.80 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. Bradesco Corretora set a $7.50 price target on shares of Cemex and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Finally, Barclays increased their target price on shares of Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Cemex currently has a consensus rating of "Hold" and a consensus target price of $7.91.

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.