Dimensional Fund Advisors LP Sells 98,374 Shares of Cemex S.A.B. de C.V. $CX

Key Points

• Dimensional Fund Advisors reduced its Cemex stake by 98,374 shares, or 0.8%. It still held 11.89 million shares worth approximately $136 million, representing about 0.82% of the company.
• Cemex has attracted strong institutional and analyst interest: institutional investors own 82.97% of the stock, while analysts’ consensus rating is “Moderate Buy” with an average price target of $13.07.
• Cemex reported quarterly earnings of $0.24 per share on $4.59 billion in revenue and raised its quarterly dividend to $0.0312 per share, equivalent to a 1.0% annualized yield.

Dimensional Fund Advisors LP reduced its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,893,117 shares of the construction company's stock after selling 98,374 shares during the period. Dimensional Fund Advisors LP owned approximately 0.82% of Cemex worth $136,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TT International Asset Management LTD bought a new position in shares of Cemex in the fourth quarter worth about $2,781,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Cemex by 18.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 12,328,806 shares of the construction company's stock valued at $141,658,000 after purchasing an additional 1,962,140 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Cemex during the 4th quarter valued at approximately $15,753,000. Pinnbrook Capital Management LP bought a new stake in shares of Cemex during the 4th quarter valued at approximately $10,669,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Cemex during the 4th quarter valued at approximately $2,857,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Cemex from a "hold" rating to a "buy" rating in a research note on Saturday, May 23rd. Santander raised shares of Cemex to an "outperform" rating in a research note on Thursday, June 11th. Barclays upped their price target on shares of Cemex from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Friday. Scotiabank increased their price target on Cemex from $14.10 to $14.50 and gave the company an "outperform" rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. raised their price objective on Cemex from $14.50 to $15.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $13.07.

Cemex Stock Up 1.5%

NYSE:CX opened at $12.24 on Tuesday. The firm's 50 day simple moving average is $12.56 and its 200 day simple moving average is $12.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.68. Cemex S.A.B. de C.V. has a one year low of $8.15 and a one year high of $13.67. The company has a market cap of $17.73 billion, a PE ratio of 35.99 and a beta of 1.52.

Cemex (NYSE:CX - Get Free Report) last posted its earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share for the quarter. The firm had revenue of $4.59 billion for the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. On average, research analysts anticipate that Cemex S.A.B. de C.V. will post 0.87 earnings per share for the current year.

Cemex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.0312 per share. This represents a $0.12 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 17th. This is a boost from Cemex's previous quarterly dividend of $0.02. Cemex's dividend payout ratio (DPR) is presently 35.29%.

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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