UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Reduces Stock Holdings in Cemex S.A.B. de C.V. $CX

Key Points

• UBS Asset Management reduced its stake in Cemex S.A.B. de C.V. by 2.7%, selling over 1 million shares in the first quarter, now holding 39.6 million shares valued at approximately $222 million.
• Cemex reported earnings per share of $0.23 for the latest quarter, beating expectations of $0.18, but slightly missed revenue projections of $4.20 billion with actual revenue of $4.13 billion.
• The firm also declared a quarterly dividend of $0.0224 per share, set to be paid on September 25, representing a 0.9% annualized yield.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lowered its position in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,630,419 shares of the construction company's stock after selling 1,115,400 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 2.73% of Cemex worth $222,327,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CX. Wayfinding Financial LLC purchased a new position in shares of Cemex in the first quarter valued at $29,000. Jones Financial Companies Lllp increased its position in shares of Cemex by 334.7% in the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company's stock valued at $52,000 after buying an additional 7,075 shares in the last quarter. Barclays PLC increased its position in shares of Cemex by 56.2% in the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company's stock valued at $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 in the fourth quarter valued at $59,000. Finally, Parallax Volatility Advisers L.P. purchased a new position in shares of Cemex in the first quarter valued at $60,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Cemex Stock Up 3.2%

CX opened at $9.48 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 1.48 and a beta of 1.43. The business has a 50-day moving average of $8.43 and a two-hundred day moving average of $7.02. Cemex S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $9.55.

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, beating the consensus estimate of $0.18 by $0.05. The company had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. Cemex had a return on equity of 6.89% and a net margin of 9.61%. On average, research analysts expect that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 17th will be issued a $0.0224 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.09 annualized dividend and a yield of 0.9%. Cemex's payout ratio is 8.82%.

Analyst Ratings Changes

A number of analysts recently commented on CX shares. Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Scotiabank reiterated an "outperform" rating on shares of Cemex in a research report on Tuesday, September 2nd. 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 research report on Tuesday, August 26th. Bank of America lifted their price objective on Cemex from $8.60 to $10.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Finally, Barclays lifted their price objective on Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Four 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. According to data from MarketBeat.com, Cemex presently has a consensus rating of "Hold" and an average target price 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.

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