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

A number of other large investors have also recently made changes to their positions in CX. Wayfinding Financial LLC bought a new position in shares of Cemex in the first quarter worth $29,000. Jones Financial Companies Lllp boosted its holdings 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 worth $52,000 after acquiring an additional 7,075 shares during the period. Barclays PLC boosted its holdings in shares of Cemex by 56.2% in the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company's stock worth $55,000 after acquiring an additional 3,510 shares during the period. Raiffeisen Bank International AG bought a new position in shares of Cemex in the fourth quarter worth $59,000. Finally, Parallax Volatility Advisers L.P. bought a new position in shares of Cemex in the first quarter worth $60,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CX shares. Bank of America lifted 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. Scotiabank reissued an "outperform" rating on shares of Cemex in a research note on Tuesday, September 2nd. Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Barclays lifted 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. Finally, JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $8.10 to $10.50 in a research note on Tuesday, August 26th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $9.02.

Cemex Trading Down 0.4%

Shares of NYSE CX traded down $0.04 during midday trading on Wednesday, reaching $9.50. The company had a trading volume of 2,156,477 shares, compared to its average volume of 12,670,330. The firm's fifty day moving average price is $8.57 and its 200-day moving average price is $7.09. The stock has a market cap of $13.76 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. 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 one year low of $4.89 and a one year high of $9.59.

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

Cemex Announces Dividend

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 given a dividend of $0.0224 per share. 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 0.9%. Cemex's dividend payout ratio is presently 8.82%.

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.