Legal & General Group Plc Grows Stock Holdings in Cemex S.A.B. de C.V. $CX

Legal & General Group Plc raised its position in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 25.1% during the fourth quarter, HoldingsChannel reports. The firm owned 828,479 shares of the construction company’s stock after purchasing an additional 166,397 shares during the period. Legal & General Group Plc’s holdings in Cemex were worth $9,515,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Cemex by 84.9% in the third quarter. JPMorgan Chase & Co. now owns 4,529,612 shares of the construction company’s stock worth $40,721,000 after buying an additional 2,080,341 shares during the period. Diversify Wealth Management LLC purchased a new position in shares of Cemex in the third quarter worth about $1,124,000. Allianz Asset Management GmbH purchased a new position in shares of Cemex in the third quarter worth about $1,059,000. TT International Asset Management LTD purchased a new position in shares of Cemex in the fourth quarter worth about $2,781,000. Finally, Dorsey Wright & Associates purchased a new position in shares of Cemex in the third quarter worth about $1,402,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total value of $425,600.00. Following the sale, the insider directly 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 the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Cemex Stock Up 0.5%

Shares of NYSE:CX opened at $12.97 on Friday. Cemex S.A.B. de C.V. has a 1 year low of $6.63 and a 1 year high of $13.67. The company has a market cap of $18.78 billion, a PE ratio of 40.52 and a beta of 1.51. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63. The stock’s 50-day moving average is $12.28 and its 200 day moving average is $11.88.

Cemex (NYSE:CX) last released its earnings results on Tuesday, March 31st. The construction company reported $0.16 EPS for the quarter. Cemex had a return on equity of 3.64% and a net margin of 2.74%. Sell-side analysts anticipate that Cemex S.A.B. de C.V. will post 0.91 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CX. JPMorgan Chase & Co. lifted their price objective on Cemex from $14.00 to $14.50 and gave the stock an “overweight” rating in a report on Friday, April 24th. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. HSBC downgraded Cemex from a “buy” rating to a “hold” rating and set a $12.80 price objective on the stock. in a report on Friday, February 6th. Finally, Barclays restated an “overweight” rating on shares of Cemex in a report on Thursday, March 12th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cemex currently has an average rating of “Moderate Buy” and an average target price of $12.77.

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.