Cemex (NYSE:CX) Issues Quarterly Earnings Results

Cemex (NYSE:CX) issued its earnings results on Thursday. The construction company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24, Zacks reports. Cemex had a return on equity of 3.64% and a net margin of 2.74%.

Cemex Trading Down 2.5%

NYSE CX traded down $0.32 on Thursday, hitting $12.40. 5,115,494 shares of the company were exchanged, compared to its average volume of 5,959,956. The company’s 50 day moving average price is $12.60 and its 200-day moving average price is $12.22. The firm has a market capitalization of $17.96 billion, a P/E ratio of 38.61 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 has a twelve month low of $7.86 and a twelve month high of $13.67.

Cemex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were paid a dividend of $0.0312 per share. This is a boost from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 17th. Cemex’s dividend payout ratio (DPR) is currently 37.50%.

Wall Street Analyst Weigh In

CX has been the subject of a number of analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.75 target price on shares of Cemex in a research note on Friday, April 24th. Scotiabank raised their price objective on shares of Cemex from $14.10 to $14.50 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. JPMorgan Chase & Co. lifted their target price on shares of Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Finally, Santander upgraded shares of Cemex to an “outperform” rating in a research report on Thursday, June 11th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Cemex currently has an average rating of “Moderate Buy” and a consensus target price of $12.87.

Insider Buying and Selling

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 846,010 shares of the company’s stock, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of Cemex

A number of institutional investors and hedge funds have recently modified their holdings of CX. Kestra Advisory Services LLC bought a new stake in Cemex in the fourth quarter valued at about $34,000. WealthCollab LLC raised its position in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after acquiring an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after purchasing an additional 3,093 shares during the last quarter. Militia Capital Partners LP bought a new position in Cemex in the second quarter valued at approximately $46,000. Finally, Inspire Investing LLC bought a new stake in Cemex in the fourth quarter valued at about $103,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.