Employees Retirement System of Texas Increases Stock Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

Employees Retirement System of Texas lifted its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,663 shares of the construction company’s stock after buying an additional 22,214 shares during the quarter. Employees Retirement System of Texas’ holdings in CEMEX were worth $1,174,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. APG Asset Management N.V. boosted its stake in shares of CEMEX by 103.3% in the second quarter. APG Asset Management N.V. now owns 473,400 shares of the construction company’s stock valued at $2,823,000 after buying an additional 240,572 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of CEMEX by 28.4% in the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after buying an additional 4,217,562 shares in the last quarter. Sagefield Capital LP boosted its stake in shares of CEMEX by 41.2% in the second quarter. Sagefield Capital LP now owns 1,376,687 shares of the construction company’s stock valued at $8,797,000 after buying an additional 401,447 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of CEMEX by 227.4% in the second quarter. Bank of Montreal Can now owns 135,515 shares of the construction company’s stock valued at $867,000 after buying an additional 94,118 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of CEMEX by 13.9% in the second quarter. 1832 Asset Management L.P. now owns 26,200 shares of the construction company’s stock valued at $167,000 after buying an additional 3,200 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays upgraded CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a research note 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 for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $8.00 price objective on shares of CEMEX in a report on Wednesday, August 21st. Finally, StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $8.70.

CEMEX Stock Performance

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

CEMEX (NYSE:CX) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. The company had revenue of $4.49 billion during the quarter. As a group, analysts predict 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 declared a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were issued a $0.021 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is 28.57%.

About CEMEX

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.