JTC Employer Solutions Trustee Ltd Sells 100,000 Shares of Cemex S.A.B. de C.V. $CX

Key Points

• JTC Employer Solutions Trustee Ltd reduced its stake in Cemex S.A.B. de C.V. by 24.9% after selling 100,000 shares during the 2nd quarter, leaving them with a total of 301,972 shares valued at approximately $2.1 million.
• Cemex reported earnings of $0.23 per share for the last quarter, surpassing analysts' expectations of $0.18, though revenues fell short of estimates at $4.13 billion.
• Analysts are optimistic about Cemex's future, with several firms raising their price targets and providing a consensus recommendation of "Hold" and a target price of $9.49.

JTC Employer Solutions Trustee Ltd cut its stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 24.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,972 shares of the construction company's stock after selling 100,000 shares during the quarter. JTC Employer Solutions Trustee Ltd's holdings in Cemex were worth $2,088,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Cemex by 137.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,252 shares of the construction company's stock valued at $175,000 after purchasing an additional 18,114 shares during the period. Oppenheimer & Co. Inc. increased its position in Cemex by 21.0% during the first quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company's stock worth $81,000 after acquiring an additional 2,505 shares during the period. Northern Trust Corp increased its position in Cemex by 4.6% during the first quarter. Northern Trust Corp now owns 1,785,660 shares of the construction company's stock worth $10,018,000 after acquiring an additional 77,898 shares during the period. American Century Companies Inc. increased its position in Cemex by 2.9% during the first quarter. American Century Companies Inc. now owns 3,645,959 shares of the construction company's stock worth $20,454,000 after acquiring an additional 104,172 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Cemex by 11.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 71,452 shares of the construction company's stock worth $401,000 after acquiring an additional 7,119 shares during the period. 82.97% of the stock is owned by institutional investors.

Cemex Trading Down 0.4%

Shares of Cemex stock opened at $9.66 on Friday. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 1.40 and a beta of 1.51. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. Cemex S.A.B. de C.V. has a 12-month low of $4.89 and a 12-month high of $9.97. The firm's 50-day moving average price is $9.12 and its two-hundred day moving average price is $7.59.

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

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th were paid a $0.0224 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, September 17th. Cemex's dividend payout ratio (DPR) is presently 8.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CX shares. The Goldman Sachs Group raised their price target on shares of Cemex from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. raised shares of Cemex from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $8.10 to $10.50 in a research report on Tuesday, August 26th. Scotiabank reaffirmed an "outperform" rating on shares of Cemex in a research report on Tuesday, September 2nd. Bank of America raised shares of Cemex from a "neutral" rating to a "buy" rating and raised their price target for the stock from $10.00 to $10.80 in a research report on Wednesday. Finally, Barclays raised their price target on shares of Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cemex has a consensus rating of "Hold" and a consensus price target of $9.49.

About Cemex

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.

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