CEMEX, S.A.B. de C.V. Plans Quarterly Dividend of $0.02 (NYSE:CX)

CEMEX, S.A.B. de C.V. (NYSE:CX) announced a quarterly dividend on Tuesday, June 10th, Wall Street Journal reports. Shareholders of record on Tuesday, June 17th will be given a dividend of 0.0224 per share by the construction company on Thursday, June 26th. This represents a $0.09 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, June 17th.

CEMEX Stock Up 2.5%

CEMEX stock traded up $0.18 during midday trading on Wednesday, reaching $7.09. The company’s stock had a trading volume of 738,657 shares, compared to its average volume of 11,687,720. CEMEX has a fifty-two week low of $4.89 and a fifty-two week high of $7.34. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. The company has a market cap of $10.27 billion, a P/E ratio of 11.18 and a beta of 1.40. The business has a 50-day simple moving average of $6.20 and a 200-day simple moving average of $6.01.

CEMEX (NYSE:CX) last posted its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. The firm had revenue of $186.46 million during the quarter, compared to analysts’ expectations of $214.59 million. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. On average, research analysts expect that CEMEX will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in CEMEX stock. Goldman Sachs Group Inc. raised its position in CEMEX, S.A.B. de C.V. (NYSE:CX) by 58.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,187,143 shares of the construction company’s stock after purchasing an additional 2,661,030 shares during the period. Goldman Sachs Group Inc. owned about 0.50% of CEMEX worth $40,320,000 at the end of the most recent reporting period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CX shares. Wall Street Zen upgraded CEMEX from a “hold” rating to a “buy” rating in a research note on Saturday, May 3rd. Itau BBA Securities cut CEMEX from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 3rd. Morgan Stanley cut CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. increased their price objective on CEMEX from $6.00 to $6.80 and gave the company a “neutral” rating in a report on Tuesday, April 29th. Finally, The Goldman Sachs Group increased their price objective on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.58.

About CEMEX

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.