Public Employees Retirement System of Ohio decreased its stake in Cemex S.A.B. de C.V. (NYSE:CX – Free Report) by 95.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,921 shares of the construction company’s stock after selling 1,166,307 shares during the period. Public Employees Retirement System of Ohio’s holdings in Cemex were worth $651,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC increased its holdings in shares of Cemex by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock worth $193,000 after buying an additional 913 shares in the last quarter. Ameriprise Financial Inc. boosted 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 valued at $2,875,000 after acquiring an additional 1,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in 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 acquiring an additional 1,288 shares during the last quarter. Ieq Capital LLC grew its position in 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 acquiring an additional 1,380 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Cemex by 3.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock worth $387,000 after purchasing an additional 1,389 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Santander upgraded shares of Cemex to an “outperform” rating in a report on Thursday, June 11th. Scotiabank lifted their target price on shares of Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. Finally, Wall Street Zen upgraded shares of Cemex from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Cemex currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.07.
Cemex Stock Down 2.1%
Shares of CX opened at $11.60 on Wednesday. The stock’s 50-day moving average price is $12.46 and its two-hundred day moving average price is $12.21. Cemex S.A.B. de C.V. has a 12 month low of $8.18 and a 12 month high of $13.67. The company has a market capitalization of $16.80 billion, a PE ratio of 34.10 and a beta of 1.53. 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 (NYSE:CX – Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share for the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%.The company had revenue of $4.59 billion during the quarter. On average, analysts anticipate that Cemex S.A.B. de C.V. will post 0.91 EPS for the current year.
Cemex Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were given a dividend of $0.0312 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.12 dividend on an annualized basis and a yield of 1.1%. This is a boost from Cemex’s previous quarterly dividend of $0.02. Cemex’s payout ratio is currently 35.29%.
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.
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