South Dakota Investment Council Reduces Position in Cemex S.A.B. de C.V. $CX

South Dakota Investment Council decreased its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 928,419 shares of the construction company’s stock after selling 50,500 shares during the quarter. South Dakota Investment Council owned about 0.06% of Cemex worth $6,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new stake in shares of Cemex during the first quarter valued at $29,000. Farther Finance Advisors LLC lifted its position in Cemex by 63.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after acquiring an additional 2,027 shares during the period. Jones Financial Companies Lllp lifted its position in Cemex by 334.7% during the 1st quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after acquiring an additional 7,075 shares during the period. Parallax Volatility Advisers L.P. purchased a new stake in Cemex during the 1st quarter valued at about $60,000. Finally, Sargent Investment Group LLC acquired a new position in shares of Cemex in the first quarter valued at about $62,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on CX. Royal Bank Of Canada lifted their target price on Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. Wall Street Zen lowered shares of Cemex from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Citigroup downgraded shares of Cemex from a “buy” rating to a “neutral” rating and upped their price objective for the company from $9.00 to $10.00 in a report on Monday, October 13th. JPMorgan Chase & Co. raised shares of Cemex from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $8.10 to $10.50 in a report on Tuesday, August 26th. Finally, Scotiabank downgraded shares of Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 target price for the company. in a research report on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.14.

Cemex Price Performance

NYSE:CX opened at $10.16 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.91 and a quick ratio of 0.61. The company has a 50 day moving average price of $9.31 and a 200-day moving average price of $7.95. Cemex S.A.B. de C.V. has a 1-year low of $4.89 and a 1-year high of $10.45. The firm has a market cap of $14.73 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 1.17 and a beta of 1.51.

Cemex (NYSE:CX) last announced its quarterly earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.15. Cemex had a net margin of 8.62% and a return on equity of 6.85%. The firm had revenue of $230.56 million for the quarter, compared to the consensus estimate of $226.73 million. Equities research analysts forecast that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th were given a dividend of $0.0224 per share. The ex-dividend date was Wednesday, September 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.9%. Cemex’s dividend payout ratio (DPR) is 9.68%.

About Cemex

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.