Pinnbrook Capital Management LP Invests $10.67 Million in Cemex S.A.B. de C.V. $CX

Pinnbrook Capital Management LP purchased a new position in Cemex S.A.B. de C.V. (NYSE:CX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 928,505 shares of the construction company’s stock, valued at approximately $10,669,000. Cemex accounts for about 1.5% of Pinnbrook Capital Management LP’s investment portfolio, making the stock its 17th biggest position. Pinnbrook Capital Management LP owned about 0.06% of Cemex at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CX. WealthCollab LLC increased its holdings in shares of Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after purchasing an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings 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 worth $30,000 after purchasing an additional 3,093 shares during the period. Ameriflex Group Inc. grew its position in Cemex by 100.0% in the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after acquiring an additional 1,744 shares in the last quarter. Reyes Financial Architecture Inc. purchased a new position in Cemex in the third quarter worth $36,000. Finally, Militia Capital Partners LP purchased a new position in Cemex in the second quarter worth $46,000. Institutional investors own 82.97% of the company’s stock.

Cemex Stock Performance

NYSE CX opened at $12.58 on Friday. The company has a 50-day simple moving average of $11.78 and a two-hundred day simple moving average of $11.69. 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 firm has a market cap of $18.23 billion, a price-to-earnings ratio of 39.32 and a beta of 1.51.

Cemex (NYSE:CX) last posted 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, equities analysts forecast that Cemex S.A.B. de C.V. will post 0.91 EPS for the current year.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.0225 per share. The ex-dividend date was Wednesday, March 11th. This is a positive change from Cemex’s previous quarterly dividend of $0.02. This represents a $0.09 annualized dividend and a yield of 0.7%. Cemex’s dividend payout ratio (DPR) is currently 28.13%.

Insider Transactions at Cemex

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total transaction of $425,600.00. Following the completion of the sale, the insider directly owned 846,010 shares in the company, valued at $10,287,481.60. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Cemex from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 3rd. JPMorgan Chase & Co. upped their target price 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. Morgan Stanley upgraded shares of Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 target price for the company in a research report on Monday, March 23rd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.75 target price on shares of Cemex in a research report on Friday, April 24th. Finally, Zacks Research lowered shares of Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.77.

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.