ABS Direct Equity Fund LLC Purchases 198,720 Shares of Cemex S.A.B. de C.V. $CX

ABS Direct Equity Fund LLC increased its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 40.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 691,420 shares of the construction company’s stock after purchasing an additional 198,720 shares during the period. Cemex accounts for 6.1% of ABS Direct Equity Fund LLC’s investment portfolio, making the stock its biggest position. ABS Direct Equity Fund LLC’s holdings in Cemex were worth $7,910,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. WealthCollab LLC increased its position in 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 purchasing an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Cemex by 256.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after buying an additional 3,093 shares during the period. NFSG Corp boosted its holdings in Cemex by 123.5% in the first quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock valued at $33,000 after acquiring an additional 1,579 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Cemex in the fourth quarter valued at $34,000. Finally, Militia Capital Partners LP purchased a new stake in Cemex during the second quarter valued at about $46,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Cemex Stock Performance

Shares of CX stock opened at $12.07 on Monday. 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 company’s fifty day moving average price is $12.57 and its two-hundred day moving average price is $12.23. The firm has a market capitalization of $17.49 billion, a P/E ratio of 35.52 and a beta of 1.52. Cemex S.A.B. de C.V. has a 12 month low of $8.15 and a 12 month high of $13.67.

Cemex (NYSE:CX) last announced its earnings results on Thursday, July 23rd. The construction company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Cemex had a return on equity of 3.82% and a net margin of 2.83%.The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.46 billion. On average, research analysts anticipate that Cemex S.A.B. de C.V. will post 0.87 earnings per share for the current fiscal year.

Cemex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.0312 per share. This is a boost from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, June 17th. This represents a $0.12 dividend on an annualized basis and a yield of 1.0%. Cemex’s payout ratio is 37.50%.

Analyst Ratings Changes

A number of research firms recently issued reports on CX. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Barclays lifted their price target on shares of Cemex from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank Of Canada increased their price objective on shares of Cemex from $12.75 to $13.50 and gave the stock a “sector perform” rating in a research report on Friday. Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Finally, Scotiabank lifted their target price on shares of Cemex from $14.10 to $14.50 and gave the company an “outperform” rating in a report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Cemex has a consensus rating of “Moderate Buy” and an average target price of $13.07.

Insiders Place Their Bets

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the firm’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 transaction of $425,600.00. Following the completion of the sale, the insider owned 846,010 shares in the company, valued at $10,287,481.60. This trade represents a 3.97% decrease in their position. The sale was disclosed in a document filed 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 (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.