U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
( ) Form 3 Holdings Reported
( ) Form 4 Transactions Reported
1. Name and Address of Reporting Person
Smerge, Raymond G.
3333 Lee Parkway
Suite 1200
Dallas, TX 75219
USA
2. Issuer Name and Ticker or Trading Symbol
Centex Corporation
CTX
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
March 1996
5. If Amendment, Date of Original (Month/Year)
March 1996
6. Relationship of Reporting Person to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice President, Chief Legal Officer and Secretary
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par value $0.25|____(1|T |1,680(2) |A |____(1) |4,218(2) |I |Centex Corporation Profit S|
per share |) | | | | | | |haring Pl |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock, par value $0.25| | | | | |300 |D | |
per share | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock, par value $0.25| | | | | |1,800 |I(3) |By Trusts |
per share | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
(1) These shares were acquired during the fiscal year ending March 31, 1996
under the Centex Corporation Profit
Sharing Plan at prices ranging from $24.25 per share to $34.21 per share in
transactions that were exempt from
Section 16(b) by virtue of old Rule 16a-8(b). The information is provided as of
March 31, 1996, and is based upon
the most recently available plan
information.
(2) Share numbers rounded to the nearest whole
share.
(3) Shares held by three Trusts (of which the Reporting Person is Trustee) for
the benefit of three minor children of
the Reporting Person.
SIGNATURE OF REPORTING PERSON
\s\ Raymond G. Smerge
DATE
July 11, 1996
