WCM Investment Management LLC Sells 296,079 Shares of Cemex S.A.B. de C.V. $CX

WCM Investment Management LLC decreased its position in Cemex S.A.B. de C.V. (NYSE:CX) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,741,766 shares of the construction company’s stock after selling 296,079 shares during the period. WCM Investment Management LLC’s holdings in Cemex were worth $61,494,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. WealthCollab LLC lifted its holdings 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. grew its holdings in Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares in the last quarter. NFSG Corp increased its position in shares of Cemex by 123.5% during 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 period. Kestra Advisory Services LLC purchased a new stake in shares of Cemex in the fourth quarter worth about $34,000. Finally, Militia Capital Partners LP bought a new position in shares of Cemex in the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CX. JPMorgan Chase & Co. upped their price target on shares of Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Morgan Stanley upgraded Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Monday, March 23rd. Scotiabank lifted their price objective on 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 research note on Tuesday, May 26th. Finally, Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.87.

Cemex Stock Performance

Shares of CX opened at $12.97 on Monday. The firm has a market capitalization of $18.80 billion, a P/E ratio of 40.55 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63. Cemex S.A.B. de C.V. has a one year low of $7.59 and a one year high of $13.67. The business has a fifty day moving average of $12.63 and a 200 day moving average of $12.20.

Cemex (NYSE:CX) last posted its quarterly earnings data on Tuesday, March 31st. The construction company reported $0.16 earnings per share (EPS) for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. As a group, sell-side analysts anticipate that Cemex S.A.B. de C.V. will post 0.89 EPS for the current year.

Cemex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th were given a dividend of $0.0312 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 17th. This is a positive change from Cemex’s previous quarterly dividend of $0.02. Cemex’s payout ratio is presently 37.50%.

Insider Activity at Cemex

In related news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of Cemex stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total transaction of $425,600.00. Following the transaction, the insider directly owned 846,010 shares in the company, valued at approximately $10,287,481.60. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

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.