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

Several other large investors also recently bought and sold shares of the business. Allworth Financial LP increased its holdings in Cemex by 7.4% in the 1st quarter. Allworth Financial LP now owns 27,651 shares of the construction company's stock worth $157,000 after buying an additional 1,906 shares in the last quarter. Natixis Advisors LLC increased its holdings in Cemex by 0.6% in the 1st quarter. Natixis Advisors LLC now owns 360,898 shares of the construction company's stock worth $2,025,000 after buying an additional 2,122 shares in the last quarter. Cetera Investment Advisers increased its holdings in Cemex by 8.4% in the 4th quarter. Cetera Investment Advisers now owns 31,652 shares of the construction company's stock worth $179,000 after buying an additional 2,452 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Cemex by 21.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company's stock worth $81,000 after buying an additional 2,505 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in shares of Cemex by 3.4% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 77,957 shares of the construction company's stock valued at $437,000 after purchasing an additional 2,570 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Cemex Price Performance

NYSE CX traded down $0.26 during trading hours on Friday, reaching $9.06. The company's stock had a trading volume of 14,325,480 shares, compared to its average volume of 10,519,966. The firm's 50-day moving average price is $8.68 and its 200-day moving average price is $7.16. 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 1 year low of $4.89 and a 1 year high of $9.61. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.46 and a beta of 1.43.

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

Cemex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 17th will be issued a $0.0224 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.09 dividend on an annualized basis and a yield of 1.0%. Cemex's payout ratio is currently 8.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Cemex from a "buy" rating to a "hold" rating in a research note on Saturday. Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Bank of America boosted their price target on Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Barclays boosted their price target on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Scotiabank restated an "outperform" rating on shares of Cemex in a research note on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $9.02.

Cemex Company 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.