CEMEX, S.A.B. de C.V. (NYSE:CX) Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. grew its position in CEMEX, S.A.B. de C.V. (NYSE:CX) by 13.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,200 shares of the construction company’s stock after acquiring an additional 3,200 shares during the quarter. 1832 Asset Management L.P.’s holdings in CEMEX were worth $167,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sei Investments Co. grew its holdings in shares of CEMEX by 11.5% during the second quarter. Sei Investments Co. now owns 3,862,431 shares of the construction company’s stock worth $24,681,000 after buying an additional 398,843 shares during the last quarter. Pacer Advisors Inc. purchased a new position in CEMEX in the 2nd quarter valued at $776,000. MQS Management LLC acquired a new position in CEMEX in the 2nd quarter valued at $129,000. Quantbot Technologies LP raised its position in CEMEX by 53.2% during the 2nd quarter. Quantbot Technologies LP now owns 425,657 shares of the construction company’s stock worth $2,720,000 after buying an additional 147,773 shares during the last quarter. Finally, Capital Wealth Planning LLC acquired a new stake in shares of CEMEX in the 2nd quarter worth $821,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CX shares. Barclays raised CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group started coverage on CEMEX in a report on Wednesday, July 10th. They set a “buy” rating and a $9.00 price objective on the stock. StockNews.com upgraded CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $8.00 target price on shares of CEMEX in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CEMEX has a consensus rating of “Moderate Buy” and an average target price of $8.70.

CEMEX Stock Performance

Shares of CX stock opened at $6.40 on Friday. The stock has a fifty day moving average price of $6.23 and a 200 day moving average price of $7.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.65 and a current ratio of 0.90. The stock has a market cap of $9.27 billion, a PE ratio of 45.71 and a beta of 1.48. CEMEX, S.A.B. de C.V. has a 1 year low of $5.50 and a 1 year high of $9.27.

CEMEX (NYSE:CX) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $0.17 EPS for the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. The firm had revenue of $4.49 billion for the quarter. Sell-side analysts forecast that CEMEX, S.A.B. de C.V. will post 0.82 earnings per share for the current fiscal year.

CEMEX Cuts Dividend

The business also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were paid a $0.021 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX’s payout ratio is currently 28.57%.

CEMEX Company Profile

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.