Marathon Asset Management Ltd Sells 269,981 Shares of Cemex S.A.B. de C.V. $CX

Key Points

• Marathon Asset Management cut its Cemex stake by 5.2% in the fourth quarter, selling 269,981 shares and leaving it with 4,970,608 shares valued at about $57.1 million.
• Cemex shares were down 3.5% to $12.26, with the stock trading near its 50-day and 200-day moving averages and carrying a market cap of $17.75 billion.
• Analyst sentiment is mixed but mildly positive: Cemex has a consensus rating of “Moderate Buy” with a consensus price target of $12.77, while the company also recently increased its quarterly dividend to $0.0225 per share.

Marathon Asset Management Ltd trimmed its stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,970,608 shares of the construction company's stock after selling 269,981 shares during the period. Cemex makes up approximately 2.2% of Marathon Asset Management Ltd's portfolio, making the stock its 14th biggest holding. Marathon Asset Management Ltd owned approximately 0.34% of Cemex worth $57,112,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. WealthCollab LLC increased its position in shares of Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock worth $26,000 after purchasing an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock worth $30,000 after purchasing an additional 3,093 shares during the last quarter. Ameriflex Group Inc. increased its position in shares of Cemex by 100.0% in the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company's stock worth $31,000 after purchasing an additional 1,744 shares during the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of Cemex in the third quarter worth approximately $36,000. Finally, Militia Capital Partners LP bought a new position in shares of Cemex in the second quarter worth approximately $46,000. 82.97% of the stock is currently owned by institutional investors.

Cemex Stock Down 3.5%

Shares of NYSE CX opened at $12.26 on Wednesday. Cemex S.A.B. de C.V. has a one year low of $6.63 and a one year high of $13.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63. The firm's 50 day simple moving average is $11.71 and its two-hundred day simple moving average is $11.66. The stock has a market capitalization of $17.75 billion, a P/E ratio of 38.30 and a beta of 1.51.

Cemex (NYSE:CX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The construction company reported $0.16 EPS for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. As a group, analysts expect that Cemex S.A.B. de C.V. will post 0.92 EPS for the current fiscal year.

Cemex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Wednesday, March 11th were issued a $0.0225 dividend. This is a positive change from Cemex's previous quarterly dividend of $0.02. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, March 11th. Cemex's dividend payout ratio (DPR) is 28.13%.

Insider Activity

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total value of $425,600.00. Following the transaction, the insider owned 846,010 shares in the company, valued at approximately $10,287,481.60. This trade represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Cemex from an "equal weight" rating to an "overweight" rating and set a $14.00 price objective on the stock in a research report on Monday, March 23rd. HSBC cut shares of Cemex from a "buy" rating to a "hold" rating and set a $12.80 price target on the stock. in a research report on Friday, February 6th. Scotiabank increased their price target on shares of Cemex from $13.90 to $14.10 and gave the company an "outperform" rating in a research report on Friday, April 10th. Wall Street Zen cut shares of Cemex from a "strong-buy" rating to a "hold" rating in a research report on Sunday, May 3rd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $12.75 price target on shares of Cemex in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.77.

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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