Strs Ohio Invests $27.12 Million in Cemex S.A.B. de C.V. $CX

Key Points

• Strs Ohio has acquired a new stake in Cemex S.A.B. de C.V., purchasing 4,834,788 shares valued at approximately $27.1 million, which represents 0.33% ownership in the company.
• Cemex's recent earnings report showed an EPS of $0.23, beating the consensus estimate of $0.18, even though its revenue of $4.13 billion fell short of expectations of $4.20 billion.
• The company announced a quarterly dividend of $0.0224 per share, with an annualized yield of 0.9% and a payout ratio of 8.82%.

Strs Ohio acquired a new position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 4,834,788 shares of the construction company's stock, valued at approximately $27,123,000. Strs Ohio owned 0.33% of Cemex at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Cemex during the 1st quarter worth approximately $29,000. Jones Financial Companies Lllp raised its stake 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 worth $52,000 after buying an additional 7,075 shares in the last quarter. Barclays PLC raised its stake in shares of Cemex by 56.2% during the 4th quarter. Barclays PLC now owns 9,759 shares of the construction company's stock worth $55,000 after buying an additional 3,510 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Cemex during the 4th quarter worth approximately $59,000. Finally, Parallax Volatility Advisers L.P. purchased a new position in shares of Cemex during the 1st quarter worth approximately $60,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Cemex Stock Down 1.2%

Cemex stock traded down $0.11 during midday trading on Friday, hitting $9.38. The stock had a trading volume of 7,090,084 shares, compared to its average volume of 11,432,604. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The stock has a market cap of $13.59 billion, a P/E ratio of 9.20, a P/E/G ratio of 1.51 and a beta of 1.43. Cemex S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $9.55. The business has a fifty day moving average price of $8.47 and a 200 day moving average price of $7.05.

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 for the quarter, beating 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 firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.20 billion. Research analysts predict that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Bank of America raised their price objective on Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $8.10 to $10.50 in a research note on Tuesday, August 26th. Barclays raised their price objective on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Wall Street Zen raised Cemex from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $9.02.

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.