Cemex S.A.B. de C.V. (NYSE:CX) Given Consensus Recommendation of “Hold” by Brokerages

Cemex S.A.B. de C.V. (NYSE:CX) has been given an average rating of “Hold” by the eleven research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $10.5188.

A number of equities analysts have recently issued reports on the company. Citigroup downgraded Cemex from a “buy” rating to a “neutral” rating and upped their price target for the stock from $9.00 to $10.00 in a research report on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. Barclays reaffirmed an “overweight” rating and set a $15.00 target price on shares of Cemex in a research report on Tuesday, January 27th. Scotiabank downgraded Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price target for the company. in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group boosted their price target on Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, October 17th.

Institutional Investors Weigh In On Cemex

A number of large investors have recently made changes to their positions in the stock. Dodge & Cox increased its position in shares of Cemex by 35.1% in the 2nd quarter. Dodge & Cox now owns 95,023,835 shares of the construction company’s stock valued at $658,515,000 after acquiring an additional 24,703,035 shares during the period. Wellington Management Group LLP increased its holdings in shares of Cemex by 451.7% in the third quarter. Wellington Management Group LLP now owns 16,897,356 shares of the construction company’s stock valued at $151,907,000 after purchasing an additional 13,834,438 shares during the period. Orbis Allan Gray Ltd raised its stake in shares of Cemex by 90.2% in the second quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock worth $182,263,000 after purchasing an additional 12,469,417 shares during the last quarter. WCM Investment Management LLC acquired a new stake in shares of Cemex during the third quarter worth about $48,699,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Cemex by 54.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 10,366,666 shares of the construction company’s stock worth $93,196,000 after purchasing an additional 3,639,547 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Cemex Trading Up 1.3%

Shares of NYSE:CX opened at $12.64 on Tuesday. Cemex has a 12-month low of $4.89 and a 12-month high of $13.35. The business’s fifty day simple moving average is $11.79 and its 200-day simple moving average is $10.13. The company has a market capitalization of $18.31 billion, a PE ratio of 13.59, a P/E/G ratio of 0.84 and a beta of 1.61. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37.

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were paid a dividend of $0.0224 per share. The ex-dividend date was Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. Cemex’s dividend payout ratio is presently 9.68%.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.