Ballentine Partners LLC Boosts Stock Position in Cemex S.A.B. de C.V. $CX

Ballentine Partners LLC boosted its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,213 shares of the construction company’s stock after acquiring an additional 4,002 shares during the quarter. Ballentine Partners LLC’s holdings in Cemex were worth $230,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Dodge & Cox lifted its holdings in shares of Cemex by 41.7% in the 1st quarter. Dodge & Cox now owns 70,320,800 shares of the construction company’s stock worth $394,500,000 after acquiring an additional 20,698,791 shares during the last quarter. Orbis Allan Gray Ltd raised its holdings in Cemex by 115.6% during the 1st quarter. Orbis Allan Gray Ltd now owns 13,831,102 shares of the construction company’s stock valued at $77,592,000 after buying an additional 7,416,743 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Cemex by 58.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company’s stock valued at $40,320,000 after buying an additional 2,661,030 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Cemex by 2.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 6,394,205 shares of the construction company’s stock valued at $35,871,000 after buying an additional 136,923 shares during the last quarter. Finally, Strs Ohio purchased a new position in Cemex during the 1st quarter valued at $27,123,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CX. Itau BBA Securities lowered shares of Cemex from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. raised shares of Cemex from a “neutral” rating to an “overweight” rating and raised their price target for the company from $8.10 to $10.50 in a report on Tuesday, August 26th. Barclays raised their price target on shares of Cemex from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Bank of America raised their price target on shares of Cemex from $8.60 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cemex presently has an average rating of “Hold” and a consensus price target of $9.02.

Cemex Price Performance

NYSE CX opened at $9.05 on Tuesday. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 1.45 and a beta of 1.43. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. 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’s 50 day moving average is $8.87 and its two-hundred day moving average is $7.29.

Cemex (NYSE:CX) last released its quarterly earnings data 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 net margin of 9.61% and a return on equity of 6.89%. The firm 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 was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th were paid a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, September 17th. Cemex’s payout ratio is currently 8.82%.

Cemex 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.