Public Employees Retirement System of Ohio Acquires New Stake in Cemex S.A.B. de C.V. $CX

Public Employees Retirement System of Ohio bought a new position in shares of Cemex S.A.B. de C.V. (NYSE:CX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 56,921 shares of the construction company’s stock, valued at approximately $683,000.

A number of other large investors have also modified their holdings of CX. Orbis Allan Gray Ltd lifted its stake in shares of Cemex by 3.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 36,132,733 shares of the construction company’s stock worth $415,165,000 after buying an additional 1,225,219 shares in the last quarter. Schroder Investment Management Group grew its stake in Cemex by 406.2% during the 4th quarter. Schroder Investment Management Group now owns 26,348,884 shares of the construction company’s stock valued at $302,749,000 after acquiring an additional 21,143,554 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Cemex by 11.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,191,754 shares of the construction company’s stock valued at $243,494,000 after acquiring an additional 2,182,666 shares in the last quarter. Wellington Management Group LLP raised its holdings in Cemex by 10.9% in the 4th quarter. Wellington Management Group LLP now owns 18,737,871 shares of the construction company’s stock valued at $215,298,000 after acquiring an additional 1,840,515 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Cemex by 4.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 12,183,183 shares of the construction company’s stock valued at $109,530,000 after acquiring an additional 499,504 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CX shares. Weiss Ratings restated a “hold (c-)” rating on shares of Cemex in a report on Friday, August 21st. Wall Street Zen cut Cemex from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. lifted their price objective on Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Scotiabank boosted their price objective on Cemex from $14.10 to $14.50 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Finally, Santander raised Cemex to an “outperform” rating in a research note on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.07.

Cemex Stock Performance

NYSE:CX opened at $10.87 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.68. The firm has a market capitalization of $15.74 billion, a price-to-earnings ratio of 31.96 and a beta of 1.52. The company’s 50-day moving average is $11.63 and its two-hundred day moving average is $11.91. Cemex S.A.B. de C.V. has a 1-year low of $8.73 and a 1-year high of $13.67.

Cemex (NYSE:CX) last announced its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $4.59 billion during the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. Analysts forecast that Cemex S.A.B. de C.V. will post 0.91 EPS for the current year.

Cemex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be given a $0.0312 dividend. This represents a $0.12 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, September 15th. Cemex’s dividend payout ratio is presently 35.29%.

Insider Transactions at Cemex

In other Cemex news, VP De La Garza Oscar Bal Elizondo sold 212,680 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $10.68, for a total transaction of $2,271,422.40. Following the completion of the sale, the vice president owned 289,490 shares of the company’s stock, valued at $3,091,753.20. This trade represents a 42.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Cemex Company Profile

CEMEX, SAB. de C.V. (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. Its primary businesses include the production, distribution and sale of cement, ready-mix concrete and aggregates, which are used in residential, commercial and infrastructure construction.

The company also provides urbanization and building solutions, including paving materials, concrete products and related services intended to support construction projects from planning through completion.