JPMorgan Chase & Co. Buys 2,080,341 Shares of Cemex S.A.B. de C.V. $CX

JPMorgan Chase & Co. lifted its stake in Cemex S.A.B. de C.V. (NYSE:CX) by 84.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,529,612 shares of the construction company’s stock after purchasing an additional 2,080,341 shares during the period. JPMorgan Chase & Co. owned 0.31% of Cemex worth $40,721,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ameriflex Group Inc. increased its stake in shares of Cemex by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock valued at $31,000 after buying an additional 1,744 shares during the period. WealthCollab LLC lifted its stake in shares of Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after acquiring an additional 1,580 shares during the period. Reyes Financial Architecture Inc. bought a new position in Cemex in the third quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after acquiring an additional 3,093 shares during the last quarter. Finally, Militia Capital Partners LP acquired a new stake in Cemex in the second quarter worth about $46,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Cemex Stock Down 3.0%

NYSE:CX opened at $9.99 on Friday. Cemex S.A.B. de C.V. has a 1 year low of $4.89 and a 1 year high of $13.35. The stock has a 50-day moving average price of $12.09 and a two-hundred day moving average price of $10.89. The stock has a market cap of $14.48 billion, a price-to-earnings ratio of 15.14 and a beta of 1.60. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.39.

Cemex (NYSE:CX) last released its quarterly earnings results on Thursday, February 5th. The construction company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.38). Cemex had a return on equity of 2.85% and a net margin of 5.93%.The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.01 billion. As a group, equities analysts expect that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Wednesday, March 11th were paid a $0.0225 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This is an increase from Cemex’s previous quarterly dividend of $0.02. This represents a $0.09 dividend on an annualized basis and a yield of 0.9%. Cemex’s payout ratio is presently 13.64%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Zacks Research cut Cemex from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Barclays reiterated an “overweight” rating on shares of Cemex in a research report on Thursday, March 12th. HSBC downgraded shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 price target for the company. in a research note on Friday, February 6th. Scotiabank raised shares of Cemex from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $13.50 to $13.90 in a research note on Wednesday, March 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.08.

Cemex Profile

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.