Cemex (NYSE:CX) EVP Sells $8,880,003.00 in Stock

Cemex S.A.B. de C.V. (NYSE:CX) EVP Cobian Mauricio Doehner sold 927,900 shares of the stock in a transaction on Wednesday, September 30th. The shares were 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 of the company’s stock, valued at approximately $5,597,780.10. This represents a 61.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cemex Stock Down 1.4%

CX stock traded down $0.13 on Wednesday, hitting $9.52. 3,993,046 shares of the company’s stock were exchanged, compared to its average volume of 6,975,266. The firm has a 50 day moving average price of $10.87 and a two-hundred day moving average price of $11.73. Cemex S.A.B. de C.V. has a 12-month low of $8.73 and a 12-month high of $13.67. The stock has a market cap of $13.79 billion, a P/E ratio of 27.99 and a beta of 1.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.92.

Cemex (NYSE:CX) last released its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 EPS for the quarter. The company had revenue of $4.59 billion during the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%. As a group, equities research analysts expect that Cemex S.A.B. de C.V. will post 0.91 EPS for the current fiscal year.

Cemex Announces Dividend

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

Institutional Investors Weigh In On Cemex

A number of institutional investors and hedge funds have recently modified their holdings of CX. NFSG Corp boosted its position in Cemex by 123.5% in the first quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock valued at $33,000 after buying an additional 1,579 shares during the last quarter. Charles Schwab Trust Co purchased a new position in Cemex during the 2nd quarter worth approximately $132,000. Havemeyer Place LP purchased a new position in Cemex during the 4th quarter worth approximately $135,000. Global Retirement Partners LLC raised its position in Cemex by 634.6% during the 4th quarter. Global Retirement Partners LLC now owns 13,222 shares of the construction company’s stock worth $152,000 after buying an additional 11,422 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in Cemex during the 4th quarter valued at approximately $156,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of Cemex from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Scotiabank lifted their price objective on shares of Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada boosted their price objective on shares of Cemex from $12.75 to $13.50 and gave the company a “sector perform” rating in a report on Friday, July 24th. Finally, Wall Street Zen downgraded Cemex from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Cemex presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.07.

Cemex Company Profile

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.