Cemex S.A.B. de C.V. $CX Stock: Perpetual Ltd Trims Holdings

Perpetual Ltd lessened its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 5.3% during the third quarter, Holdings Channel.com reports. The firm owned 5,312,248 shares of the construction company’s stock after selling 299,983 shares during the quarter. Perpetual Ltd’s holdings in Cemex were worth $50,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CX. Sei Investments Co. raised 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 worth $47,482,000 after buying an additional 287,350 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Cemex by 14.4% during the first quarter. Lazard Asset Management LLC now owns 4,046,527 shares of the construction company’s stock worth $46,292,000 after acquiring an additional 508,016 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in 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 in the last quarter. Panagora Asset Management Inc. raised its position in Cemex by 15.7% in the fourth quarter. Panagora Asset Management Inc. now owns 3,173,933 shares of the construction company’s stock worth $36,468,000 after acquiring an additional 431,713 shares in the last quarter. Finally, Amundi raised its position in Cemex by 9.3% in the first quarter. Amundi now owns 3,115,879 shares of the construction company’s stock worth $35,646,000 after acquiring an additional 264,248 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other Cemex news, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was 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 approximately $3,091,753.20. The trade was a 42.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mauricio Doehner sold 927,900 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $9.57, for a total value of $8,880,003.00. Following the sale, the executive vice president owned 584,930 shares in the company, valued at approximately $5,597,780.10. The trade was a 61.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

Cemex Price Performance

CX stock opened at $9.57 on Tuesday. The firm has a 50 day moving average of $10.48 and a 200-day moving average of $11.68. The company has a market cap of $13.87 billion, a price-to-earnings ratio of 28.16 and a beta of 1.51. The company has a current ratio of 0.92, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. Cemex S.A.B. de C.V. has a 12-month low of $9.10 and a 12-month high of $13.67.

Cemex (NYSE:CX) last released 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 return on equity of 3.82% and a net margin of 2.83%. As a group, equities analysts expect that Cemex S.A.B. de C.V. will post 0.91 EPS for the current fiscal year.

Cemex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Tuesday, September 15th were issued a dividend of $0.0312 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 annualized dividend and a yield of 1.3%. Cemex’s payout ratio is currently 35.29%.

Analyst Ratings Changes

CX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a research note on Friday, August 21st. Barclays increased their price target on shares of Cemex from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Scotiabank increased their price target 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 cut shares of Cemex from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Cemex has a consensus rating of “Moderate Buy” and an average target price of $13.42.

About Cemex

CEMEX, SAB. de C.V. is a global building materials company headquartered in San Pedro Garza García, Mexico. The company produces, distributes and sells cement, ready-mix concrete, aggregates and related construction materials used in residential, commercial and infrastructure projects.

CEMEX also provides construction solutions and services, including concrete products, paving materials, building systems and digital tools designed to support construction professionals and customers. Its operations and commercial activities serve markets across Mexico, the United States, Europe, South and Central America, the Caribbean, Africa and the Middle East.

The company traces its origins to 1906, when Cementos Hidalgo began operations in Mexico.