Key Points
- Cemex Vice President Oscar Bal Elizondo sold 212,680 shares at an average price of $10.68, generating $2.27 million. The sale reduced his direct ownership by 42.35%, leaving him with 289,490 shares.
- Cemex reported quarterly earnings of $0.24 per share on revenue of $4.59 billion, while analysts expect full-year earnings of $0.91 per share. The company also increased its quarterly dividend to $0.0312 per share, implying a 1.2% annual yield.
- Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $13.07 versus the stock’s recent $10.60 price. Institutional investors own approximately 82.97% of Cemex shares.
Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) VP De La Garza Oscar Bal Elizondo sold 212,680 shares of Cemex stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $10.68, for a total transaction of $2,271,422.40. Following the sale, the vice president directly owned 289,490 shares in the company, valued at $3,091,753.20. This trade represents a 42.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Cemex Price Performance
Shares of NYSE:CX opened at $10.60 on Friday. The company has a market cap of $15.36 billion, a price-to-earnings ratio of 31.18 and a beta of 1.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.68. The firm has a 50 day simple moving average of $12.07 and a 200 day simple moving average of $12.07. Cemex S.A.B. de C.V. has a one year low of $8.59 and a one year high of $13.67.
Cemex (NYSE:CX - Get Free Report) last issued its earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share for the quarter. The firm had revenue of $4.59 billion for the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. Research analysts predict that Cemex S.A.B. de C.V. will post 0.91 earnings per share for the current fiscal year.
Cemex Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were issued a dividend of $0.0312 per share. This is a positive change from Cemex's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.12 annualized dividend and a dividend yield of 1.2%. Cemex's dividend payout ratio (DPR) is 35.29%.
Institutional Investors Weigh In On Cemex
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its holdings in 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 acquiring an additional 7,075 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Cemex by 58.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company's stock worth $40,320,000 after purchasing an additional 2,661,030 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Cemex by 53.2% in the 2nd quarter. Cetera Investment Advisers now owns 57,269 shares of the construction company's stock worth $397,000 after purchasing an additional 19,878 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock worth $30,000 after purchasing an additional 3,093 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Cemex by 57.1% in the 2nd quarter. Invesco Ltd. now owns 50,480 shares of the construction company's stock valued at $350,000 after purchasing an additional 18,348 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Cemex in a report on Tuesday, May 26th. Royal Bank Of Canada lifted their price target on Cemex from $12.75 to $13.50 and gave the company a "sector perform" rating in a research note on Friday, July 24th. Barclays upped their price objective on Cemex from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Scotiabank raised their price objective on shares of Cemex from $14.10 to $14.50 and gave the company an "outperform" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen downgraded shares of Cemex from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.07.
View Our Latest Report on CX
Cemex Company Profile
(
Get Free Report)
Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex's product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.
Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.
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