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 purchased a new stake in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,834,788 shares of the construction company's stock, valued at approximately $27,123,000. Strs Ohio owned approximately 0.33% of Cemex as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its position in Cemex by 7.4% during the first quarter. Allworth Financial LP now owns 27,651 shares of the construction company's stock valued at $157,000 after purchasing an additional 1,906 shares in the last quarter. Natixis Advisors LLC raised its position in Cemex by 0.6% during the first quarter. Natixis Advisors LLC now owns 360,898 shares of the construction company's stock valued at $2,025,000 after purchasing an additional 2,122 shares in the last quarter. Cetera Investment Advisers raised its position in Cemex by 8.4% during the fourth quarter. Cetera Investment Advisers now owns 31,652 shares of the construction company's stock valued at $179,000 after purchasing an additional 2,452 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Cemex by 21.0% in the first 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 during the period. Finally, Legacy Wealth Asset Management LLC increased its holdings in shares of Cemex by 3.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 77,957 shares of the construction company's stock worth $437,000 after buying an additional 2,570 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Cemex Stock Down 0.5%

Shares of CX stock traded down $0.05 during midday trading on Wednesday, reaching $9.49. 2,821,120 shares of the stock were exchanged, compared to its average volume of 12,676,324. Cemex S.A.B. de C.V. has a 1 year low of $4.89 and a 1 year high of $9.59. The company's 50 day moving average is $8.57 and its two-hundred day moving average is $7.09. 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 firm has a market cap of $13.74 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43.

Cemex (NYSE:CX - Get Free Report) last posted its earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share 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 firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate 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 year.

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th will be given 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 of this dividend is Wednesday, September 17th. Cemex's payout ratio is currently 8.82%.

Analyst Ratings Changes

Several research firms have recently commented on CX. Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Barclays lifted their price objective on Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Scotiabank reiterated an "outperform" rating on shares of Cemex in a report on Tuesday, September 2nd. Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Finally, JPMorgan Chase & Co. upgraded Cemex from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $8.10 to $10.50 in a report on Tuesday, August 26th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average 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.