Envestnet Asset Management Inc. Acquires 122,710 Shares of Cemex S.A.B. de C.V. $CX

Envestnet Asset Management Inc. grew its stake in Cemex S.A.B. de C.V. (NYSE:CX) by 16.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 888,542 shares of the construction company’s stock after buying an additional 122,710 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Cemex worth $7,988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp boosted its position in shares of Cemex by 334.7% in the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock valued at $52,000 after acquiring an additional 7,075 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Cemex by 58.8% in the first 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 in the last quarter. Yousif Capital Management LLC increased its position in Cemex by 7.3% in the second quarter. Yousif Capital Management LLC now owns 25,159 shares of the construction company’s stock worth $174,000 after purchasing an additional 1,710 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Cemex by 16.2% during the second quarter. Sequoia Financial Advisors LLC now owns 14,819 shares of the construction company’s stock worth $103,000 after buying an additional 2,068 shares during the last quarter. Finally, MQS Management LLC acquired a new position in Cemex in the second quarter valued at approximately $147,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Cemex Stock Up 0.7%

Shares of CX opened at $12.66 on Friday. The firm has a 50 day simple moving average of $12.24 and a two-hundred day simple moving average of $10.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.62. Cemex S.A.B. de C.V. has a one year low of $4.89 and a one year high of $13.35. The company has a market cap of $18.33 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.85 and a beta of 1.61.

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

Cemex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were paid a $0.0224 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.09 annualized dividend and a yield of 0.7%. Cemex’s dividend payout ratio is presently 13.64%.

Wall Street Analyst Weigh In

Several analysts have commented on CX shares. Barclays reiterated an “overweight” rating and set a $15.00 target price on shares of Cemex in a research report on Tuesday, January 27th. Royal Bank Of Canada increased their price objective on shares of Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a research report on Wednesday, October 29th. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Zacks Research cut Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, HSBC cut shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 target price on the stock. in a report on Friday, February 6th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.04.

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.