Cemex (NYSE:CX) Posts Earnings Results, Meets Expectations

Cemex (NYSE:CX) announced its quarterly earnings results on Thursday. The construction company reported $0.24 earnings per share (EPS) 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 Stock Performance

Shares of Cemex stock traded down $0.40 during trading on Thursday, reaching $12.32. The company’s stock had a trading volume of 4,914,536 shares, compared to its average volume of 5,959,956. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.63 and a current ratio of 0.87. The business’s fifty day moving average price is $12.60 and its 200-day moving average price is $12.22. The firm has a market cap of $17.86 billion, a price-to-earnings ratio of 38.48 and a beta of 1.52. Cemex has a one year low of $7.86 and a one year high of $13.67.

Cemex Increases Dividend

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

Insider Buying and Selling at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was 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. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Cemex

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new position in shares of Cemex during the fourth quarter valued at about $34,000. WealthCollab LLC grew its position in 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 buying an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after acquiring an additional 3,093 shares during the period. Militia Capital Partners LP bought a new position in Cemex during the second quarter valued at about $46,000. Finally, Inspire Investing LLC acquired a new position in Cemex in the 4th quarter valued at approximately $103,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CX. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. Santander upgraded shares of Cemex to an “outperform” rating in a report on Thursday, June 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $12.75 price target on shares of Cemex in a report on Friday, April 24th. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, JPMorgan Chase & Co. upped their target price on Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.87.

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.