Brokerages Set Cemex S.A.B. de C.V. (NYSE:CX) PT at $12.77

Shares of Cemex S.A.B. de C.V. (NYSE:CX) have been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $12.8278.

Several equities research analysts have issued reports on CX shares. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Barclays reaffirmed an “overweight” rating on shares of Cemex in a research note on Thursday, March 12th. Santander raised Cemex to an “outperform” rating in a research report on Thursday, June 11th. Royal Bank Of Canada restated a “sector perform” rating and issued a $12.75 price objective on shares of Cemex in a report on Friday, April 24th. Finally, Scotiabank upped their target price on shares of Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a research report on Friday, April 10th.

Insider Activity

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 846,010 shares of the company’s stock, valued at approximately $10,287,481.60. The trade was a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Cemex

Several institutional investors have recently added to or reduced their stakes in CX. Sequoia Financial Advisors LLC lifted its stake in Cemex by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock worth $193,000 after purchasing an additional 913 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Cemex by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock valued at $2,875,000 after buying an additional 1,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cemex by 4.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock valued at $329,000 after buying an additional 1,288 shares during the period. Ieq Capital LLC raised its holdings in shares of Cemex by 7.6% in the 4th quarter. Ieq Capital LLC now owns 19,598 shares of the construction company’s stock valued at $225,000 after buying an additional 1,380 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Cemex by 3.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock worth $387,000 after acquiring an additional 1,389 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Cemex Stock Up 1.6%

Shares of NYSE CX opened at $12.37 on Friday. The company has a 50 day simple moving average of $12.64 and a 200-day simple moving average of $12.16. The company has a market capitalization of $17.92 billion, a P/E ratio of 38.65 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63. Cemex has a 1 year low of $7.17 and a 1 year high of $13.67.

Cemex (NYSE:CX) last released its quarterly 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%. On average, equities research analysts predict that Cemex will post 0.91 earnings per share for the current year.

Cemex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were given 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 dividend yield of 1.0%. The ex-dividend date was Wednesday, June 17th. Cemex’s dividend payout ratio (DPR) is 37.50%.

About Cemex

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.