Cemex S.A.B. de C.V. $CX Position Boosted by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. lifted its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 933.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,798,783 shares of the construction company’s stock after buying an additional 2,528,043 shares during the quarter. Cemex accounts for about 1.6% of Black Creek Investment Management Inc.’s holdings, making the stock its 14th biggest holding. Black Creek Investment Management Inc.’s holdings in Cemex were worth $32,158,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Kestra Advisory Services LLC bought a new position in shares of Cemex during the fourth quarter worth about $34,000. Ameriflex Group Inc. lifted its position in shares of Cemex by 100.0% during the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after purchasing an additional 1,744 shares during the last quarter. WealthCollab LLC lifted its position in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after purchasing an additional 1,580 shares during the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of Cemex during the third quarter worth about $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Cemex by 256.7% during the second 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 last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Cemex

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total value of $425,600.00. Following the sale, the insider owned 846,010 shares in the company, valued at approximately $10,287,481.60. This trade represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CX shares. JPMorgan Chase & Co. increased their price objective on shares of Cemex from $14.00 to $14.50 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Santander upgraded shares of Cemex to an “outperform” rating in a research note on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Morgan Stanley upgraded shares of Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective on the stock in a research note on Monday, March 23rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.75 price objective on shares of Cemex in a research note on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Cemex currently has an average rating of “Moderate Buy” and an average price target of $12.77.

Cemex Price Performance

CX opened at $12.96 on Friday. The firm has a market cap of $18.77 billion, a price-to-earnings ratio of 40.49 and a beta of 1.51. Cemex S.A.B. de C.V. has a fifty-two week low of $6.63 and a fifty-two week high of $13.67. The company’s 50-day moving average price is $12.43 and its 200 day moving average price is $11.96. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.35.

Cemex (NYSE:CX) last announced its quarterly earnings results on Tuesday, March 31st. The construction company reported $0.16 EPS for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. 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 will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be paid a $0.0312 dividend. The ex-dividend date is Wednesday, June 17th. This is an increase from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a dividend yield of 1.0%. Cemex’s dividend payout ratio (DPR) is 37.50%.

Cemex 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.