Mirabella Financial Services LLP bought a new position in shares of Cemex S.A.B. de C.V. (NYSE:CX – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 85,628 shares of the construction company’s stock, valued at approximately $770,000.
Several other institutional investors also recently bought and sold shares of the stock. Diversify Wealth Management LLC purchased a new stake in shares of Cemex during the third quarter worth about $1,124,000. WCM Investment Management LLC acquired a new stake in Cemex in the 3rd quarter worth about $48,699,000. Allianz Asset Management GmbH purchased a new stake in Cemex during the 3rd quarter worth approximately $1,059,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Cemex by 84.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 195,439 shares of the construction company’s stock valued at $1,757,000 after acquiring an additional 89,465 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Cemex during the second quarter valued at approximately $1,322,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Zacks Research cut Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Barclays reaffirmed an “overweight” rating on shares of Cemex in a research note on Thursday, March 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st. HSBC downgraded shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 price target on the stock. in a research note on Friday, February 6th. Finally, Scotiabank raised shares of Cemex from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $13.50 to $13.90 in a research note on Wednesday, March 11th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cemex currently has an average rating of “Hold” and an average target price of $11.08.
Cemex Trading Up 0.6%
NYSE CX opened at $10.33 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.83 and a quick ratio of 0.62. The stock has a market capitalization of $14.96 billion, a P/E ratio of 15.65 and a beta of 1.60. The firm’s 50-day moving average is $12.14 and its two-hundred day moving average is $10.87. Cemex S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $13.35.
Cemex (NYSE:CX – Get Free Report) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $4.01 billion. Cemex had a net margin of 5.93% and a return on equity of 2.85%. On average, 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 company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Wednesday, March 11th were issued a dividend of $0.0225 per share. This is a positive change from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, March 11th. This represents a $0.09 dividend on an annualized basis and a yield of 0.9%. Cemex’s dividend payout ratio (DPR) is 13.64%.
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.
Further Reading
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