BNP Paribas Financial Markets Grows Stake in CEMEX, S.A.B. de C.V. (NYSE:CX)

BNP Paribas Financial Markets increased its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CXFree Report) by 25.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,296,403 shares of the construction company’s stock after purchasing an additional 267,074 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.09% of CEMEX worth $11,681,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CX. Diversify Advisory Services LLC bought a new position in CEMEX during the first quarter valued at approximately $918,000. Norden Group LLC bought a new position in CEMEX during the first quarter valued at approximately $654,000. Allspring Global Investments Holdings LLC boosted its stake in CEMEX by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock valued at $68,274,000 after buying an additional 94,790 shares during the last quarter. Triasima Portfolio Management inc. boosted its stake in CEMEX by 23.3% during the first quarter. Triasima Portfolio Management inc. now owns 37,790 shares of the construction company’s stock valued at $340,000 after buying an additional 7,140 shares during the last quarter. Finally, Claro Advisors LLC boosted its stake in CEMEX by 6.9% during the first quarter. Claro Advisors LLC now owns 30,842 shares of the construction company’s stock valued at $278,000 after buying an additional 1,998 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

CX has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price objective on CEMEX from $9.50 to $8.50 and set an “overweight” rating for the company in a research note on Monday. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group raised their price objective on CEMEX from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Bank of America lowered CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada initiated coverage on CEMEX in a research note on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CEMEX presently has a consensus rating of “Moderate Buy” and an average target price of $9.39.

View Our Latest Report on CX

CEMEX Price Performance

Shares of CX stock opened at $6.27 on Wednesday. CEMEX, S.A.B. de C.V. has a 52-week low of $5.67 and a 52-week high of $9.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.51 and a current ratio of 0.78. The firm has a market capitalization of $9.08 billion, a P/E ratio of 44.79 and a beta of 1.47. The stock has a 50 day moving average price of $7.07 and a 200 day moving average price of $7.75.

CEMEX (NYSE:CXGet Free Report) last issued its quarterly earnings results on Monday, April 29th. The construction company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $4.14 billion during the quarter. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. During the same period in the prior year, the business posted $0.15 earnings per share. As a group, sell-side analysts predict that CEMEX, S.A.B. de C.V. will post 0.88 earnings per share for the current year.

CEMEX Dividend Announcement

The company also recently disclosed a Variable dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were issued a dividend of $0.349 per share. The ex-dividend date was Monday, June 17th. CEMEX’s payout ratio is currently 14.29%.

CEMEX Profile

(Free Report)

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products.

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Institutional Ownership by Quarter for CEMEX (NYSE:CX)

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