Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in Cemex S.A.B. de C.V. $CX

Key Points

• Healthcare of Ontario Pension Plan Trust Fund significantly increased its stake in Cemex during the first quarter, buying 3.45 million additional shares and lifting its holdings to 3.65 million shares valued at about $41.7 million.
• Cemex reported solid quarterly results, with earnings of $0.24 per share matching estimates and revenue of $4.59 billion, which topped analyst expectations.
• The company also raised its quarterly dividend to $0.0312 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $13.07.

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 1,747.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,646,000 shares of the construction company's stock after purchasing an additional 3,448,600 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.25% of Cemex worth $41,710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WealthCollab LLC raised its stake in Cemex by 73.7% during the 2nd 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. lifted its holdings in shares of Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock valued at $30,000 after buying an additional 3,093 shares during the period. NFSG Corp boosted its stake in shares of Cemex by 123.5% in the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company's stock worth $33,000 after buying an additional 1,579 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Cemex in the 4th quarter worth $34,000. Finally, Militia Capital Partners LP bought a new stake in shares of Cemex in the second quarter worth $46,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Cemex Price Performance

Shares of Cemex stock opened at $12.07 on Friday. Cemex S.A.B. de C.V. has a one year low of $8.15 and a one year high of $13.67. The stock's fifty day moving average is $12.57 and its 200 day moving average is $12.23. The stock has a market cap of $17.49 billion, a P/E ratio of 35.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.63 and a current ratio of 0.87.

Cemex (NYSE:CX - Get Free Report) last released its earnings results on Thursday, July 23rd. The construction company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Cemex had a return on equity of 3.76% and a net margin of 2.83%.The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.46 billion. Sell-side 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 disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th were given a dividend of $0.0312 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 17th. This is an increase from Cemex's previous quarterly dividend of $0.02. Cemex's payout ratio is presently 37.50%.

Insider Buying and Selling at Cemex

In related news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total transaction of $425,600.00. Following the completion of the transaction, the insider directly owned 846,010 shares in the company, valued at approximately $10,287,481.60. The trade was a 3.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank Of Canada upped their price objective on Cemex from $12.75 to $13.50 and gave the company a "sector perform" rating in a research report on Friday. Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. upped their price target on shares of Cemex from $14.50 to $15.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Cemex in a research note on Tuesday, May 26th. Finally, Barclays raised their price objective on shares of Cemex from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Friday. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.07.

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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