Cemex (NYSE:CX) Releases Earnings Results, Meets Estimates

Cemex (NYSE:CX) issued its earnings results on Thursday. The construction company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24, Zacks reports. Cemex had a return on equity of 3.64% and a net margin of 2.74%.

Cemex Price Performance

Shares of NYSE CX traded down $0.40 during midday trading on Thursday, reaching $12.32. 4,914,536 shares of the company traded hands, compared to its average volume of 5,959,956. Cemex has a 12 month low of $7.86 and a 12 month high of $13.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.63 and a current ratio of 0.87. The stock’s 50-day simple moving average is $12.60 and its 200-day simple moving average is $12.22. The firm has a market cap of $17.86 billion, a PE ratio of 38.48 and a beta of 1.52.

Cemex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.0312 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This is a boost from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.0%. Cemex’s dividend payout ratio (DPR) is 37.50%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CX. Scotiabank increased their price objective on shares of Cemex from $14.10 to $14.50 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cemex in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. increased their price target on shares of Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Finally, Santander upgraded shares of Cemex to an “outperform” rating in a research note 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.87.

Insider Buying and Selling at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Cemex

Several large investors have recently added to or reduced their stakes in CX. Schroder Investment Management Group increased its stake in shares of Cemex by 406.2% in the fourth quarter. Schroder Investment Management Group now owns 26,348,884 shares of the construction company’s stock valued at $302,749,000 after buying an additional 21,143,554 shares in the last quarter. Wellington Management Group LLP lifted its position in Cemex by 451.7% during the 3rd quarter. Wellington Management Group LLP now owns 16,897,356 shares of the construction company’s stock worth $151,907,000 after buying an additional 13,834,438 shares in the last quarter. Orbis Allan Gray Ltd grew its holdings in Cemex by 90.2% during the 2nd quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock worth $182,263,000 after acquiring an additional 12,469,417 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in Cemex by 53.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 10,857,832 shares of the construction company’s stock valued at $125,392,000 after acquiring an additional 3,766,639 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Cemex by 129.2% in the fourth quarter. Millennium Management LLC now owns 5,758,476 shares of the construction company’s stock worth $66,165,000 after acquiring an additional 3,246,064 shares during 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.