South Dakota Investment Council Sells 882,441 Shares of Cemex S.A.B. de C.V. $CX

South Dakota Investment Council lowered its stake in Cemex S.A.B. de C.V. (NYSE:CX) by 95.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,978 shares of the construction company’s stock after selling 882,441 shares during the period. South Dakota Investment Council’s holdings in Cemex were worth $413,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CX. WealthCollab LLC raised its stake in shares of Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after acquiring an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in 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 purchasing an additional 3,093 shares during the period. Militia Capital Partners LP bought a new stake in Cemex during the second quarter worth approximately $46,000. Jones Financial Companies Lllp grew its holdings in Cemex by 334.7% during the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock valued at $52,000 after purchasing an additional 7,075 shares during the last quarter. Finally, Atria Investments Inc acquired a new position in Cemex during the second quarter valued at approximately $79,000. Institutional investors own 82.97% of the company’s stock.

Cemex Stock Down 3.6%

CX opened at $10.93 on Friday. The business has a 50 day moving average of $12.35 and a 200-day moving average of $10.76. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 0.76 and a beta of 1.60. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.33. Cemex S.A.B. de C.V. has a 1-year low of $4.89 and a 1-year high of $13.35.

Cemex (NYSE:CX) last announced its earnings results on Thursday, February 5th. The construction company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.38). The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.01 billion. Cemex had a return on equity of 2.85% and a net margin of 5.93%. As a group, sell-side analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, March 11th. This is a positive change from Cemex’s previous quarterly dividend of $0.02. Cemex’s payout ratio is presently 13.64%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CX. HSBC cut shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 price objective for the company. in a research note on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a report on Wednesday, January 21st. Scotiabank boosted their target price on shares of Cemex from $11.10 to $13.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. Barclays restated an “overweight” rating and set a $15.00 price target on shares of Cemex in a report on Tuesday, January 27th. Finally, Zacks Research downgraded Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cemex presently has an average rating of “Hold” and a consensus price target of $11.04.

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.