Insider Buying: Cemex (NYSE:CX) Director Acquires $6,925,824.00 in Stock

Cemex S.A.B. de C.V. (NYSE:CX) Director Zambrano Lozano purchased 400,800 shares of the stock in a transaction on Friday, September 25th. The shares were bought at an average price of $17.28 per share, for a total transaction of $6,925,824.00. Following the acquisition, the director owned 10,000,000 shares of the company’s stock, valued at approximately $172,800,000. The trade was a 4.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cemex Price Performance

Shares of Cemex stock opened at $9.73 on Monday. The firm has a fifty day simple moving average of $11.05 and a 200-day simple moving average of $11.75. The company has a current ratio of 0.92, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. Cemex S.A.B. de C.V. has a 1-year low of $8.73 and a 1-year high of $13.67. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of 28.61 and a beta of 1.52.

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

Cemex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th were issued a $0.0312 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a yield of 1.3%. Cemex’s dividend payout ratio (DPR) is 35.29%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CX. Weiss Ratings restated a “hold (c-)” rating on shares of Cemex in a research note on Friday, August 21st. Scotiabank upped their price objective on Cemex from $14.10 to $14.50 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada increased their target price on Cemex from $12.75 to $13.50 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Wall Street Zen downgraded Cemex from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.07.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Capital Wealth Planning LLC increased its holdings in Cemex by 137.2% during the 4th quarter. Capital Wealth Planning LLC now owns 487,739 shares of the construction company’s stock valued at $5,643,000 after purchasing an additional 282,149 shares in the last quarter. Employees Retirement System of Texas grew its holdings in shares of Cemex by 130.0% during the fourth quarter. Employees Retirement System of Texas now owns 453,092 shares of the construction company’s stock worth $5,206,000 after purchasing an additional 256,133 shares during the last quarter. Sei Investments Co. increased its stake in shares of Cemex by 7.4% in the first quarter. Sei Investments Co. now owns 4,150,537 shares of the construction company’s stock valued at $47,482,000 after buying an additional 287,350 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of Cemex in the first quarter valued at about $1,086,000. Finally, Black Creek Investment Management Inc. raised its holdings in shares of Cemex by 933.8% in the fourth quarter. Black Creek Investment Management Inc. now owns 2,798,783 shares of the construction company’s stock valued at $32,158,000 after buying an additional 2,528,043 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

About Cemex

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.