Calamos Advisors LLC Trims Stock Position in Cemex S.A.B. de C.V. $CX

Calamos Advisors LLC lessened its stake in Cemex S.A.B. de C.V. (NYSE:CX) by 44.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,705 shares of the construction company’s stock after selling 79,100 shares during the quarter. Calamos Advisors LLC’s holdings in Cemex were worth $1,118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Cemex by 84.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,529,612 shares of the construction company’s stock worth $40,721,000 after purchasing an additional 2,080,341 shares in the last quarter. TT International Asset Management LTD purchased a new position in shares of Cemex during the 4th quarter valued at approximately $2,781,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Cemex by 18.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 12,328,806 shares of the construction company’s stock valued at $141,658,000 after purchasing an additional 1,962,140 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Cemex in the 4th quarter valued at $15,753,000. Finally, Pinnbrook Capital Management LP purchased a new stake in Cemex during the fourth quarter worth $10,669,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on CX. Scotiabank raised their price target on shares of Cemex from $14.10 to $14.50 and gave the company an “outperform” rating in a research report on Tuesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Santander upgraded Cemex to an “outperform” rating in a research report on Thursday, June 11th. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $12.75 price target on shares of Cemex in a report on Friday, April 24th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.87.

Cemex Price Performance

Shares of Cemex stock opened at $13.08 on Friday. The business has a 50 day simple moving average of $12.63 and a two-hundred day simple moving average of $12.19. Cemex S.A.B. de C.V. has a 12 month low of $7.34 and a 12 month high of $13.67. The stock has a market capitalization of $18.95 billion, a P/E ratio of 40.88 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 (NYSE:CX) last released its earnings results on Tuesday, March 31st. The construction company reported $0.16 earnings per share for the quarter. Cemex had a return on equity of 3.64% and a net margin of 2.74%. As a group, analysts predict that Cemex S.A.B. de C.V. will post 0.89 EPS for the current fiscal year.

Cemex Increases Dividend

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

Insider Transactions at Cemex

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of Cemex stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total transaction of $425,600.00. Following the sale, the insider owned 846,010 shares of the company’s stock, valued at $10,287,481.60. The trade was a 3.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Cemex 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.