IPG Investment Advisors LLC Reduces Stock Position in Cemex S.A.B. de C.V. $CX

IPG Investment Advisors LLC lessened its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 75.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 311,273 shares of the construction company’s stock after selling 970,810 shares during the quarter. IPG Investment Advisors LLC’s holdings in Cemex were worth $3,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Cemex by 84.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,529,612 shares of the construction company’s stock worth $40,721,000 after purchasing an additional 2,080,341 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in Cemex during the 3rd quarter worth about $1,124,000. Mitsubishi UFJ Trust & Banking Corp increased its position in Cemex by 84.4% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 195,439 shares of the construction company’s stock worth $1,757,000 after purchasing an additional 89,465 shares in the last quarter. WCM Investment Management LLC purchased a new stake in Cemex during the 3rd quarter worth about $48,699,000. Finally, Allianz Asset Management GmbH purchased a new stake in Cemex in the 3rd quarter valued at about $1,059,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CX. HSBC cut Cemex from a “buy” rating to a “hold” rating and set a $12.80 price target for the company. in a report on Friday, February 6th. JPMorgan Chase & Co. lifted their price target on Cemex from $14.00 to $14.50 and gave the company an “overweight” rating in a report on Friday, April 24th. Zacks Research cut Cemex from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Royal Bank Of Canada restated a “sector perform” rating and issued a $12.75 price target on shares of Cemex in a report on Friday, April 24th. Finally, Scotiabank lifted their price target on Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a report on Friday, April 10th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.77.

Insider Buying and Selling at Cemex

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

Cemex Stock Up 0.9%

CX opened at $13.22 on Thursday. The stock has a market capitalization of $19.16 billion, a price-to-earnings ratio of 41.33 and a beta of 1.51. Cemex S.A.B. de C.V. has a 12 month low of $6.63 and a 12 month high of $13.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63. The business has a 50-day moving average of $11.97 and a two-hundred day moving average of $11.77.

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

Cemex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Wednesday, March 11th were paid a $0.0225 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. This is an increase from Cemex’s previous quarterly dividend of $0.02. Cemex’s dividend payout ratio is presently 28.13%.

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.