Black Creek Investment Management Inc. Invests $110,000 in Cemex S.A.B. de C.V. $CX

Black Creek Investment Management Inc. purchased a new position in Cemex S.A.B. de C.V. (NYSE:CX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,859 shares of the construction company’s stock, valued at approximately $110,000. Cemex accounts for 0.0% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after buying an additional 2,027 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Cemex by 334.7% during the 1st quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after acquiring an additional 7,075 shares during the period. Parallax Volatility Advisers L.P. bought a new stake in shares of Cemex during the 1st quarter worth approximately $60,000. Sargent Investment Group LLC acquired a new stake in shares of Cemex during the 1st quarter worth approximately $62,000. Finally, Inspire Investing LLC bought a new position in Cemex in the second quarter valued at approximately $70,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Cemex Stock Performance

Shares of CX stock opened at $10.01 on Tuesday. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.17 and a beta of 1.56. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $9.55 and its 200-day moving average price is $8.30. Cemex S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $10.56.

Cemex (NYSE:CX) last released its quarterly earnings data on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.15. The company had revenue of $230.56 million during the quarter, compared to the consensus estimate of $226.73 million. Cemex had a return on equity of 6.85% and a net margin of 8.62%. Equities research analysts forecast 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 paid a dividend of $0.0224 per share. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.09 annualized dividend and a dividend yield of 0.9%. Cemex’s dividend payout ratio (DPR) is presently 9.68%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CX shares. Bank of America upgraded Cemex from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.00 to $10.80 in a research note on Wednesday, October 15th. Scotiabank downgraded Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price objective for the company. in a research report on Tuesday, October 21st. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group boosted their target price on Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Royal Bank Of Canada raised their price target on shares of Cemex from $7.00 to $8.25 and gave the company an “underperform” rating in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.14.

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.