Cemex (NYSE:CX) Director Buys $6,925,824.00 in Stock

Cemex S.A.B. de C.V. (NYSE:CX) Director Lozano Rogelio Zambrano acquired 400,800 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The stock was purchased at an average cost of $17.28 per share, with a total value of $6,925,824.00. Following the completion of the purchase, the director directly owned 10,000,000 shares in the company, valued at $172,800,000. This represents a 4.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cemex Price Performance

CX stock traded up $0.22 during midday trading on Friday, hitting $9.73. 7,388,258 shares of the stock were exchanged, compared to its average volume of 6,256,197. The stock’s 50-day moving average price is $11.12 and its 200-day moving average price is $11.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.92. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 28.61 and a beta of 1.52. Cemex S.A.B. de C.V. has a fifty-two week low of $8.73 and a fifty-two week high of $13.67.

Cemex (NYSE:CX) last posted its earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share for the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%.The company had revenue of $4.59 billion for the quarter. Research analysts predict that Cemex S.A.B. de C.V. will post 0.91 earnings per share for the current year.

Cemex Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CX shares. Scotiabank raised their target price on shares of Cemex from $14.10 to $14.50 and gave the company an “outperform” rating in a report on Tuesday, July 14th. 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 report on Wednesday, July 8th. Wall Street Zen lowered shares of Cemex from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a research note on Friday, August 21st. Finally, Barclays lifted their price objective on Cemex from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.07.

Institutional Trading of Cemex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NFSG Corp raised its stake in Cemex by 123.5% in the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock valued at $33,000 after purchasing an additional 1,579 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new stake in shares of Cemex during the fourth quarter worth about $123,000. Charles Schwab Trust Co purchased a new stake in shares of Cemex during the second quarter worth about $132,000. Havemeyer Place LP acquired a new position in shares of Cemex in the fourth quarter valued at approximately $135,000. Finally, Global Retirement Partners LLC raised its position in shares of Cemex by 634.6% in the fourth quarter. Global Retirement Partners LLC now owns 13,222 shares of the construction company’s stock valued at $152,000 after buying an additional 11,422 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

About Cemex

CEMEX, SAB. de C.V. (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. Its primary businesses include the production, distribution and sale of cement, ready-mix concrete and aggregates, which are used in residential, commercial and infrastructure construction.

The company also provides urbanization and building solutions, including paving materials, concrete products and related services intended to support construction projects from planning through completion.