GFS Advisors LLC Reduces Holdings in Cemex S.A.B. de C.V. $CX

GFS Advisors LLC decreased its position in Cemex S.A.B. de C.V. (NYSE:CX) by 51.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,427 shares of the construction company’s stock after selling 65,649 shares during the period. GFS Advisors LLC’s holdings in Cemex were worth $706,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Cemex by 84.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,529,612 shares of the construction company’s stock worth $40,721,000 after acquiring an additional 2,080,341 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Cemex in the 3rd quarter worth approximately $1,124,000. Allianz Asset Management GmbH acquired a new position in shares of Cemex in the 3rd quarter worth approximately $1,059,000. TT International Asset Management LTD acquired a new position in shares of Cemex in the 4th quarter worth approximately $2,781,000. Finally, Dorsey Wright & Associates acquired a new position in shares of Cemex in the 3rd quarter worth approximately $1,402,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total value of $425,600.00. Following the completion of the transaction, the insider owned 846,010 shares of the company’s stock, valued at $10,287,481.60. This trade represents a 3.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CX. Morgan Stanley upgraded shares of Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective on the stock in a report on Monday, March 23rd. Royal Bank Of Canada restated a “sector perform” rating and issued a $12.75 price objective on shares of Cemex in a report on Friday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of Cemex from $14.00 to $14.50 and gave the stock an “overweight” rating in a report on Friday, April 24th. Scotiabank upped their price objective on shares of Cemex from $13.90 to $14.10 and gave the stock an “outperform” rating in a report on Friday, April 10th. Finally, Wall Street Zen upgraded shares of Cemex from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Cemex presently has an average rating of “Moderate Buy” and a consensus target price of $12.77.

Cemex Stock Performance

Shares of CX stock opened at $12.07 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.35. Cemex S.A.B. de C.V. has a 52 week low of $6.63 and a 52 week high of $13.67. The stock has a market capitalization of $17.48 billion, a PE ratio of 37.70 and a beta of 1.51. The firm has a 50 day moving average of $12.36 and a two-hundred day moving average of $11.93.

Cemex (NYSE:CX) last issued its quarterly earnings results on Tuesday, March 31st. The construction company reported $0.16 EPS for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. On average, research analysts predict that Cemex S.A.B. de C.V. will post 0.91 EPS for the current fiscal year.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be given a $0.0312 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.12 annualized dividend and a yield of 1.0%. This is a boost from Cemex’s previous quarterly dividend of $0.02. Cemex’s dividend payout ratio is 28.13%.

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.