Key Points
- Insider purchase: Cemex director Lozano Rogelio Zambrano bought 400,800 shares at an average $17.28 each, investing approximately $6.93 million and increasing his ownership to 10 million shares.
- Stock and business performance: CX opened at $9.73, below its 50-day and 200-day moving averages, while Cemex reported quarterly EPS of $0.24 on $4.59 billion in revenue. Analysts expect $0.91 in full-year EPS.
- Investor outlook: Cemex paid a quarterly dividend of $0.0312 per share, and analysts maintain a “Moderate Buy” consensus with an average price target of $13.07; institutional investors own 82.97% of the stock.
Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) Director Lozano Rogelio Zambrano acquired 400,800 shares of Cemex stock in a transaction that occurred on Friday, September 25th. The stock was acquired at an average cost of $17.28 per share, for a total transaction of $6,925,824.00. Following the purchase, the director owned 10,000,000 shares of the company's stock, valued at $172,800,000. The trade was a 4.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Cemex Stock Performance
Shares of CX stock opened at $9.73 on Friday. The business's 50 day simple moving average is $11.05 and its 200 day simple moving average is $11.74. Cemex S.A.B. de C.V. has a one year low of $8.73 and a one year high of $13.67. The stock has a market capitalization of $14.09 billion, a PE ratio of 28.61 and a beta of 1.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.68.
Cemex (NYSE:CX - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of $4.59 billion during the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. As a group, research analysts forecast that Cemex S.A.B. de C.V. will post 0.91 earnings per share for the current year.
Cemex Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Tuesday, September 15th were paid a dividend of $0.0312 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 15th. Cemex's dividend payout ratio (DPR) is currently 35.29%.
Institutional Trading of Cemex
Several hedge funds and other institutional investors have recently modified their holdings of CX. Sei Investments Co. lifted its stake in shares of Cemex by 7.4% during the 1st quarter. Sei Investments Co. now owns 4,150,537 shares of the construction company's stock valued at $47,482,000 after buying an additional 287,350 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Cemex by 3.1% in the 4th quarter. BNP Paribas Financial Markets now owns 4,136,409 shares of the construction company's stock valued at $47,527,000 after buying an additional 124,420 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Cemex by 14.4% during the 1st quarter. Lazard Asset Management LLC now owns 4,046,527 shares of the construction company's stock valued at $46,292,000 after acquiring an additional 508,016 shares during the period. Letko Brosseau & Associates Inc. raised its holdings in Cemex by 3.4% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 3,823,500 shares of the construction company's stock valued at $43,932,000 after acquiring an additional 125,975 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Cemex by 1,747.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,646,000 shares of the construction company's stock worth $41,710,000 after acquiring an additional 3,448,600 shares during the period. Institutional investors own 82.97% of the company's stock.
Analyst Ratings Changes
Several equities analysts have issued reports on the company. Royal Bank Of Canada boosted 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. Scotiabank boosted their price objective on Cemex from $14.10 to $14.50 and gave the company an "outperform" rating in a report on Tuesday, July 14th. Weiss Ratings reissued a "hold (c-)" rating on shares of Cemex in a research report on Friday, August 21st. JPMorgan Chase & Co. upped their price target on Cemex from $14.50 to $15.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Finally, Santander upgraded shares of Cemex to an "outperform" rating in a research note on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.07.
View Our Latest Analysis on Cemex
Cemex Company Profile
(
Get Free Report)
CEMEX, SAB. de C.V. (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. Its primary businesses include the production, distribution and sale of cement, ready-mix concrete and aggregates, which are used in residential, commercial and infrastructure construction.
The company also provides urbanization and building solutions, including paving materials, concrete products and related services intended to support construction projects from planning through completion.
Further Reading
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