Perpetual Ltd Decreases Stock Holdings in Cemex S.A.B. de C.V. $CX

Key Points

• Perpetual Ltd reduced its stake in Cemex S.A.B. de C.V. by 1.7%, selling 156,979 shares and now owns approximately 0.63% of the company, valued at $63.34 million.
• Cemex's recent quarterly earnings exceeded analysts' expectations, reporting an EPS of $0.23 against a consensus estimate of $0.18, though revenue fell short with $4.13 billion compared to the expected $4.20 billion.
• The company declared a quarterly dividend of $0.0224 per share, reflecting a dividend yield of 1.0%, with the payout ratio currently at 8.82%.

Perpetual Ltd trimmed its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,139,920 shares of the construction company's stock after selling 156,979 shares during the period. Perpetual Ltd owned approximately 0.63% of Cemex worth $63,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Cemex during the 1st quarter valued at approximately $29,000. Jones Financial Companies Lllp increased its position in shares of Cemex by 334.7% during the 1st quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company's stock valued at $52,000 after purchasing an additional 7,075 shares during the last quarter. Parallax Volatility Advisers L.P. bought a new position in shares of Cemex during the 1st quarter valued at approximately $60,000. Westfuller Advisors LLC bought a new position in shares of Cemex during the 1st quarter valued at approximately $62,000. Finally, Sargent Investment Group LLC bought a new position in shares of Cemex during the 1st quarter valued at approximately $62,000. Institutional investors own 82.97% of the company's stock.

Cemex Stock Up 1.6%

Shares of CX stock traded up $0.15 during mid-day trading on Tuesday, hitting $9.37. The stock had a trading volume of 3,483,743 shares, compared to its average volume of 12,636,832. Cemex S.A.B. de C.V. has a 12-month low of $4.89 and a 12-month high of $9.61. The firm has a market capitalization of $13.57 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.43. The firm's 50-day moving average is $8.72 and its two-hundred day moving average is $7.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61.

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 the consensus estimate of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The business had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. On average, analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 17th will be paid a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 17th. Cemex's dividend payout ratio is 8.82%.

Analyst Ratings Changes

CX has been the topic of several analyst reports. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and boosted their target price for the company 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. Wall Street Zen downgraded Cemex from a "buy" rating to a "hold" rating in a research report on Saturday. Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. Finally, Barclays upped their price objective on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.02.

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.