Corient Private Wealth LLC Sells 136,355 Shares of Cemex S.A.B. de C.V. $CX

Corient Private Wealth LLC reduced its position in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 69.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 59,260 shares of the construction company’s stock after selling 136,355 shares during the quarter. Corient Private Wealth LLC’s holdings in Cemex were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WealthCollab LLC boosted its position in shares of Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after acquiring an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares during the period. Ameriflex Group Inc. grew its position in Cemex by 100.0% during the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after buying an additional 1,744 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Cemex during the fourth quarter worth approximately $34,000. Finally, Reyes Financial Architecture Inc. acquired a new position in Cemex in the third quarter valued at about $36,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Cemex from $14.00 to $14.50 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $12.75 target price on shares of Cemex in a report on Friday, April 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. Morgan Stanley raised shares of Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price target for the company in a report on Monday, March 23rd. Finally, Santander upgraded 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.77.

Insider Transactions at Cemex

In related news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the business’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 owned 846,010 shares in the company, valued at $10,287,481.60. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Cemex Stock Down 0.2%

NYSE:CX opened at $12.27 on Friday. Cemex S.A.B. de C.V. has a one year low of $7.12 and a one year 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 company has a market cap of $17.77 billion, a PE ratio of 38.34 and a beta of 1.52. The firm’s 50 day simple moving average is $12.64 and its 200 day simple moving average is $12.13.

Cemex (NYSE:CX) last released its quarterly 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, research analysts anticipate 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 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 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 17th. Cemex’s payout ratio is 37.50%.

Cemex 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.