Cemex (NYSE:CX) VP De La Garza Oscar Bal Elizondo Sells 212,680 Shares of Stock

Cemex S.A.B. de C.V. (NYSE:CX) VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $10.68, for a total value of $2,271,422.40. Following the transaction, the vice president owned 289,490 shares in the company, valued at approximately $3,091,753.20. This trade represents a 42.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cemex Stock Performance

Shares of CX stock opened at $10.60 on Friday. 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 stock has a market cap of $15.36 billion, a PE ratio of 31.18 and a beta of 1.53. The stock has a 50-day moving average of $12.07 and a 200-day 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) last announced its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share for the quarter. The business 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%. As a group, sell-side analysts expect that Cemex S.A.B. de C.V. will post 0.91 earnings per share for the current year.

Cemex Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th were given a dividend of $0.0312 per share. This is a positive change from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, June 17th. Cemex’s payout ratio is 35.29%.

Analyst Ratings Changes

A number of research firms recently commented on CX. Barclays upped their price objective on shares of Cemex from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. raised their price target on Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Royal Bank Of Canada lifted their price objective on Cemex from $12.75 to $13.50 and gave the company a “sector perform” rating in a report 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 research report on Tuesday, July 14th. Finally, Santander upgraded shares of Cemex to an “outperform” rating in a report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.07.

Hedge Funds Weigh In On Cemex

Several hedge funds have recently made changes to their positions in CX. Sequoia Financial Advisors LLC boosted its holdings in shares of Cemex by 5.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock valued at $193,000 after purchasing an additional 913 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Cemex by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock worth $2,875,000 after buying an additional 1,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cemex by 4.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock worth $329,000 after buying an additional 1,288 shares during the last quarter. Ieq Capital LLC lifted its position in shares of Cemex by 7.6% during the 4th quarter. Ieq Capital LLC now owns 19,598 shares of the construction company’s stock worth $225,000 after buying an additional 1,380 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Cemex by 3.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock valued at $387,000 after buying an additional 1,389 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

About Cemex

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.