CEMEX schedules shareholder meetings for March 25

CEMEX S.A.B. de C.V. (NYSE:CX), a major player in the hydraulic cement industry with a market capitalization of $9.73 billion, has announced its upcoming Ordinary General Shareholders’ Meeting and Extraordinary General Shareholders’ Meeting, both slated to occur on March 25, 2025, in Monterrey, Mexico.

The announcement comes as the company’s stock shows strong momentum, posting a 14.33% gain over the past week. This information is based on a report filed with the U.S. Securities and Exchange Commission today. According to InvestingPro analysis, CEMEX currently trades below its Fair Value, suggesting potential upside opportunity.

The meetings are set to cover a range of undisclosed agenda items, details of which were provided in supplemental information accompanying the announcement. While the specific matters to be discussed at the meetings have not been elaborated in the press release, such gatherings typically address corporate governance, financial results, and strategic directions for the company.

Shareholders of record will have the opportunity to attend and vote on proposals presented during the meetings. The announcement did not specify whether any significant changes or proposals would be tabled for shareholder approval, but the gatherings are a routine part of corporate governance, providing a platform for management to report to its shareholders and for shareholders to exercise their rights in corporate decision-making.

CEMEX, with its headquarters in San Pedro Garza García, Nuevo León, Mexico, operates internationally, providing building materials and services across various regions. The company’s stock is traded on the New York Stock Exchange under the ticker symbol CX, with a notably attractive P/E ratio of 0.97. InvestingPro data reveals that management has been aggressively buying back shares, and analysts expect net income growth this year. For deeper insights into CEMEX’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

With analyst price targets ranging from $5 to $9 per share, the outcomes of these meetings could have significant implications for the company’s future operations and strategic initiatives. InvestingPro subscribers can access 8 additional exclusive insights about CEMEX’s financial health and market position.

In other recent news, Cemex SAB de CV finalized the sale of its Dominican Republic operations to Cementos Progreso Holdings, S.L. The transaction, valued at $950 million, includes Cemex’s business interests in Haiti, a cement plant with two production lines, and related assets. This strategic divestiture is part of Cemex’s ongoing efforts to optimize its asset portfolio and focus on its core businesses.

In addition, Cemex has reported a change in the trustee of its CPO Trust, with Banco Citi México assuming the role from Banamex. The company reassures that the transition will not affect the CPO Trust’s operations or the quality of financial products and services previously offered by Banamex.

Recently, RBC Capital downgraded Cemex’s stock from Sector Perform to Underperform, citing concerns about potential challenges for the company due to the recent election results in the United States and the possibility of a 25% import tariff.

Cemex also announced the third installment of its 2024 cash dividend to shareholders, amounting to $30 million in total. The dividend originates from Cemex’s Net Tax Profit Account as of December 31, 2013, and will not be subject to tax withholding.

Lastly, Cemex reported to the Mexican Stock Exchange that it is unaware of the reasons behind the significant trading volume fluctuations of its stock.

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