Cemex S.A.B. de C.V. (NYSE:CX) Given Consensus Rating of “Moderate Buy” by Brokerages

Cemex S.A.B. de C.V. (NYSE:CX) has received an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.7722.

Several research analysts have issued reports on CX shares. Morgan Stanley raised Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a report on Monday, March 23rd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $12.75 price objective on shares of Cemex in a research note on Friday, April 24th. Scotiabank lifted their target price on shares of Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a research note on Friday, April 10th. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Santander upgraded shares of Cemex to an “outperform” rating in a report on Thursday, June 11th.

Cemex Stock Performance

NYSE:CX opened at $12.12 on Friday. The company has a 50-day moving average of $12.64 and a 200-day moving average of $12.15. The firm has a market cap of $17.55 billion, a price-to-earnings ratio of 37.86 and a beta of 1.52. The company has a current ratio of 0.87, a quick ratio of 0.63 and a debt-to-equity ratio of 0.35. Cemex has a twelve month low of $7.12 and a twelve month high of $13.67.

Cemex (NYSE:CX) last released its earnings results on Tuesday, March 31st. The construction company reported $0.16 EPS for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. Analysts forecast that Cemex will post 0.91 earnings per share for the current fiscal year.

Cemex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were issued a dividend of $0.0312 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.12 annualized dividend and a dividend yield of 1.0%. This is an increase from Cemex’s previous quarterly dividend of $0.02. Cemex’s payout ratio is currently 37.50%.

Insider Activity

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total value of $425,600.00. Following the sale, the insider directly owned 846,010 shares of the company’s stock, valued at approximately $10,287,481.60. This trade represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Cemex

Hedge funds and other institutional investors have recently modified their holdings of the stock. WealthCollab LLC grew its position in Cemex by 73.7% in the 2nd 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 last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cemex by 256.7% in the 2nd 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 last quarter. Ameriflex Group Inc. increased its holdings in shares of 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. NFSG Corp increased its holdings in Cemex by 123.5% during the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock valued at $33,000 after purchasing an additional 1,579 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Cemex in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.