Parallel Advisors LLC Has $122,000 Holdings in Cemex S.A.B. de C.V. $CX

Parallel Advisors LLC cut its holdings in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 11.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,596 shares of the construction company’s stock after selling 2,296 shares during the quarter. Parallel Advisors LLC’s holdings in Cemex were worth $122,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CX. Wayfinding Financial LLC acquired a new position in shares of Cemex during the first quarter worth approximately $29,000. Jones Financial Companies Lllp lifted its holdings in shares of Cemex by 334.7% during the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after buying an additional 7,075 shares during the last quarter. Parallax Volatility Advisers L.P. acquired a new position in shares of Cemex during the first quarter worth approximately $60,000. Westfuller Advisors LLC acquired a new position in shares of Cemex during the first quarter worth approximately $62,000. Finally, Sargent Investment Group LLC acquired a new position in shares of Cemex during the first quarter worth approximately $62,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Cemex Price Performance

Cemex stock opened at $9.15 on Wednesday. The business’s 50-day simple moving average is $8.76 and its 200 day simple moving average is $7.20. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 1.49 and a beta of 1.43. Cemex S.A.B. de C.V. has a 12-month low of $4.89 and a 12-month high of $9.61. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX) last posted its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.20 billion. As a group, research analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 17th will be paid a $0.0224 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.09 annualized dividend and a yield of 1.0%. Cemex’s dividend payout ratio is presently 8.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CX. JPMorgan Chase & Co. upgraded Cemex from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $8.10 to $10.50 in a report on Tuesday, August 26th. Scotiabank restated an “outperform” rating on shares of Cemex in a research note on Tuesday, September 2nd. Bank of America upped their target price on Cemex from $8.60 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Barclays upped their target price on Cemex from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Itau BBA Securities lowered Cemex from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 3rd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cemex presently has a consensus rating of “Hold” and a consensus target price of $9.02.

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.