Perpetual Ltd Has $82.72 Million Holdings in Cemex S.A.B. de C.V. $CX

Perpetual Ltd lifted its position in Cemex S.A.B. de C.V. (NYSE:CX) by 0.7% in the 3rd quarter, Holdings Channel reports. The fund owned 9,201,553 shares of the construction company’s stock after buying an additional 61,633 shares during the period. Cemex makes up approximately 1.0% of Perpetual Ltd’s investment portfolio, making the stock its 28th biggest holding. Perpetual Ltd’s holdings in Cemex were worth $82,722,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. WealthCollab LLC grew its position in Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after purchasing an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after buying an additional 3,093 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Cemex by 63.7% in the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after buying an additional 2,027 shares during the period. Militia Capital Partners LP purchased a new position in shares of Cemex during the second quarter valued at $46,000. Finally, Jones Financial Companies Lllp raised its position in Cemex by 334.7% during the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock valued at $52,000 after buying an additional 7,075 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CX shares. Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Barclays raised their price target on shares of Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised shares of Cemex from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th. Scotiabank downgraded shares of Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 target price for the company. in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group boosted their price target on shares of Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, October 17th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.14.

Cemex Price Performance

Shares of CX opened at $11.65 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.91. The firm has a market cap of $16.88 billion, a PE ratio of 12.53, a PEG ratio of 1.24 and a beta of 1.61. The firm’s 50 day moving average price is $10.35 and its 200 day moving average price is $8.96. Cemex S.A.B. de C.V. has a twelve month low of $4.89 and a twelve month high of $11.85.

Cemex (NYSE:CX) last posted its earnings results on Tuesday, October 28th. The construction company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.01 by $0.15. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $226.73 million. Cemex had a net margin of 8.62% and a return on equity of 6.85%. As a group, research analysts expect that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be given a dividend of $0.0224 per share. This represents a $0.09 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, December 15th. Cemex’s dividend payout ratio is presently 9.68%.

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.