South Dakota Investment Council Sells 882,441 Shares of Cemex S.A.B. de C.V. $CX

South Dakota Investment Council decreased its position in Cemex S.A.B. de C.V. (NYSE:CX) by 95.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 45,978 shares of the construction company’s stock after selling 882,441 shares during the period. South Dakota Investment Council’s holdings in Cemex were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. WealthCollab LLC increased its position in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after purchasing an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. raised 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 purchasing an additional 3,093 shares in the last quarter. Militia Capital Partners LP bought a new position in Cemex in the second quarter worth $46,000. Jones Financial Companies Lllp lifted its position in Cemex by 334.7% in the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after purchasing an additional 7,075 shares during the period. Finally, Atria Investments Inc acquired a new stake in Cemex during the second quarter worth $79,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CX. Barclays reissued an “overweight” rating and issued a $15.00 price target on shares of Cemex in a report on Tuesday, January 27th. Zacks Research lowered shares of Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Scotiabank upped their target price on shares of Cemex from $11.10 to $13.50 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st. Finally, HSBC cut shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 price target for the company. in a research note on Friday, February 6th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.04.

Cemex Stock Performance

Cemex stock opened at $10.93 on Friday. The firm has a market capitalization of $15.84 billion, a P/E ratio of 16.56, a P/E/G ratio of 0.76 and a beta of 1.60. The stock has a fifty day moving average price of $12.35 and a two-hundred day moving average price of $10.76. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $13.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.62.

Cemex (NYSE:CX) last issued its earnings results on Thursday, February 5th. The construction company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.38). Cemex had a net margin of 5.93% and a return on equity of 2.85%. The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.01 billion. As a group, analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.0225 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.09 annualized dividend and a yield of 0.8%. This is an increase from Cemex’s previous quarterly dividend of $0.02. Cemex’s payout ratio is 13.64%.

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.