Panagora Asset Management Inc. Raises Holdings in Cemex S.A.B. de C.V. $CX

Panagora Asset Management Inc. lifted its holdings in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 15.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,173,933 shares of the construction company’s stock after acquiring an additional 431,713 shares during the period. Panagora Asset Management Inc. owned approximately 0.22% of Cemex worth $36,468,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CX. WealthCollab LLC grew its stake in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after acquiring an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after acquiring an additional 3,093 shares during the last quarter. Ameriflex Group Inc. grew its stake 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 acquiring an additional 1,744 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Cemex during the fourth quarter worth about $34,000. Finally, Reyes Financial Architecture Inc. purchased a new stake in shares of Cemex during the third quarter worth about $36,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Trading Down 0.7%

Cemex stock opened at $12.90 on Tuesday. 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 S.A.B. de C.V. has a 12 month low of $6.63 and a 12 month high of $13.67. The stock’s 50 day simple moving average is $12.46 and its two-hundred day simple moving average is $11.99. The firm has a market cap of $18.68 billion, a PE ratio of 40.30 and a beta of 1.51.

Cemex (NYSE:CX) last released its quarterly earnings data on Tuesday, March 31st. The construction company reported $0.16 EPS for the quarter. Cemex had a return on equity of 3.64% and a net margin of 2.74%. Analysts anticipate that Cemex S.A.B. de C.V. will post 0.91 earnings per share for the current year.

Cemex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be given a $0.0312 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.12 annualized dividend and a yield of 1.0%. This is a boost from Cemex’s previous quarterly dividend of $0.02. Cemex’s payout ratio is currently 28.13%.

Insider Buying and Selling

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the company’s stock in a transaction that occurred on 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 owned 846,010 shares in the company, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Santander upgraded Cemex to an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on Cemex from $14.00 to $14.50 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Scotiabank boosted their price target on Cemex from $13.90 to $14.10 and gave the stock an “outperform” rating in a research note on Friday, April 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cemex in a research report on Tuesday, May 26th. Finally, Barclays reiterated an “overweight” rating on shares of Cemex in a report on Thursday, March 12th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.77.

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.