Bank of Montreal Can Boosts Stake in Cemex S.A.B. de C.V. $CX

Bank of Montreal Can boosted its position in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 142.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,982 shares of the construction company’s stock after buying an additional 71,047 shares during the period. Bank of Montreal Can’s holdings in Cemex were worth $838,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CX. Farther Finance Advisors LLC boosted its position in shares of Cemex by 63.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after acquiring an additional 2,027 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Cemex by 334.7% during the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock valued at $52,000 after purchasing an additional 7,075 shares in the last quarter. Parallax Volatility Advisers L.P. purchased a new stake in Cemex during the first quarter valued at $60,000. Sargent Investment Group LLC bought a new position in Cemex during the first quarter valued at $62,000. Finally, Inspire Investing LLC purchased a new position in shares of Cemex in the 2nd quarter worth $70,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CX shares. JPMorgan Chase & Co. upgraded shares of Cemex from a “neutral” rating to an “overweight” rating and upped their target price for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th. The Goldman Sachs Group boosted their price objective on Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Citigroup lowered Cemex from a “buy” rating to a “neutral” rating and raised their price objective for the company from $9.00 to $10.00 in a research note on Monday, October 13th. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.14.

Cemex Trading Down 0.9%

Shares of CX opened at $10.10 on Friday. The company has a 50-day moving average of $9.54 and a 200 day moving average of $8.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.91 and a quick ratio of 0.61. Cemex S.A.B. de C.V. has a 1-year low of $4.89 and a 1-year high of $10.56. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.17 and a beta of 1.56.

Cemex (NYSE:CX) last announced its quarterly earnings data on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.15. The company had revenue of $230.56 million for the quarter, compared to analysts’ expectations of $226.73 million. Cemex had a return on equity of 6.85% and a net margin of 8.62%. On average, research analysts expect that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th were issued a $0.0224 dividend. The ex-dividend date was Wednesday, September 17th. This represents a $0.09 annualized dividend and a dividend yield of 0.9%. Cemex’s payout ratio is currently 9.68%.

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.