CastleKnight Management LP Has $9.12 Million Holdings in Cemex S.A.B. de C.V. $CX

CastleKnight Management LP lessened its holdings in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 27.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 793,900 shares of the construction company’s stock after selling 295,800 shares during the quarter. CastleKnight Management LP’s holdings in Cemex were worth $9,122,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its holdings in shares of Cemex by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock worth $193,000 after purchasing an additional 913 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Cemex by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock worth $2,875,000 after purchasing an additional 1,221 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cemex by 4.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock worth $329,000 after purchasing an additional 1,288 shares during the period. Ieq Capital LLC lifted its holdings in shares of Cemex by 7.6% during the fourth quarter. Ieq Capital LLC now owns 19,598 shares of the construction company’s stock worth $225,000 after purchasing an additional 1,380 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of Cemex by 3.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock worth $387,000 after purchasing an additional 1,389 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of Cemex 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 completion of the sale, the insider directly owned 846,010 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Cemex Price Performance

CX stock opened at $12.60 on Thursday. The firm has a market cap of $18.25 billion, a price-to-earnings ratio of 39.36 and a beta of 1.51. 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 12-month low of $6.63 and a 12-month high of $13.67. The company’s fifty day simple moving average is $12.52 and its 200 day simple moving average is $12.03.

Cemex (NYSE:CX) last released its earnings results 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%. On average, 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 business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be paid a $0.0312 dividend. This represents a $0.12 annualized dividend and a yield of 1.0%. This is an increase from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Wednesday, June 17th. Cemex’s payout ratio is presently 28.13%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CX. Royal Bank Of Canada restated a “sector perform” rating and issued a $12.75 target price on shares of Cemex in a report on Friday, April 24th. Barclays restated an “overweight” rating on shares of Cemex in a report on Thursday, March 12th. Scotiabank boosted their target price on shares of Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a report on Friday, April 10th. Santander upgraded shares of Cemex to an “outperform” rating in a report on Thursday, June 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cemex from $14.00 to $14.50 and gave the company an “overweight” rating in a report on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.77.

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.