Strs Ohio Sells 550,000 Shares of Cemex S.A.B. de C.V. $CX

Strs Ohio lessened its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 11.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,284,788 shares of the construction company’s stock after selling 550,000 shares during the quarter. Strs Ohio’s holdings in Cemex were worth $38,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can increased its stake in Cemex by 142.3% in the 2nd quarter. Bank of Montreal Can now owns 120,982 shares of the construction company’s stock worth $838,000 after acquiring an additional 71,047 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Cemex during the 2nd quarter valued at about $1,322,000. Advisors Asset Management Inc. increased its position in shares of Cemex by 9.4% in the second quarter. Advisors Asset Management Inc. now owns 813,753 shares of the construction company’s stock worth $5,639,000 after purchasing an additional 69,979 shares during the last quarter. Brandes Investment Partners LP raised its stake in Cemex by 7.7% in the second quarter. Brandes Investment Partners LP now owns 32,648,163 shares of the construction company’s stock valued at $226,252,000 after purchasing an additional 2,337,817 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Cemex in the second quarter valued at approximately $3,835,000. 82.97% of the stock is currently owned by institutional investors.

Cemex Price Performance

Shares of NYSE:CX opened at $12.90 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.37. The stock has a market cap of $18.68 billion, a PE ratio of 13.87, a PEG ratio of 0.88 and a beta of 1.59. The company’s fifty day moving average is $11.47 and its 200 day moving average is $9.86. Cemex S.A.B. de C.V. has a 52 week low of $4.89 and a 52 week high of $13.04.

Cemex (NYSE:CX) last announced its quarterly earnings data on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $226.73 million. Cemex had a return on equity of 6.85% and a net margin of 8.62%. 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 business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were paid a $0.0224 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, December 15th. Cemex’s payout ratio is 9.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research report on Wednesday. Royal Bank Of Canada lifted their price objective on shares of Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. Barclays increased their target price on Cemex from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Finally, Bank of America upgraded Cemex from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $10.80 in a report on Wednesday, October 15th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.14.

Cemex Company Profile

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.