Ramirez Asset Management Inc. Acquires 47,718 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Ramirez Asset Management Inc. increased its position in CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 799,917 shares of the construction company's stock after purchasing an additional 47,718 shares during the quarter. CEMEX makes up about 0.9% of Ramirez Asset Management Inc.'s investment portfolio, making the stock its 26th largest holding. Ramirez Asset Management Inc. owned about 0.06% of CEMEX worth $4,512,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CX. IFP Advisors Inc increased its stake in shares of CEMEX by 159.1% during the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock valued at $28,000 after purchasing an additional 3,062 shares in the last quarter. Barclays PLC boosted its position in shares of CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company's stock valued at $38,000 after buying an additional 1,843 shares during the last quarter. Aureus Asset Management LLC purchased a new stake in shares of CEMEX during the third quarter valued at $70,000. Envestnet Portfolio Solutions Inc. increased its holdings in CEMEX by 26.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company's stock worth $73,000 after buying an additional 2,720 shares in the last quarter. Finally, Banco Santander S.A. purchased a new position in CEMEX in the 4th quarter worth about $78,000. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

CX has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of CEMEX from $8.00 to $9.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Morgan Stanley cut CEMEX from an "overweight" rating to an "equal weight" rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada upped their price objective on CEMEX from $5.00 to $6.00 and gave the company an "underperform" rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $7.82.

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CEMEX Price Performance

NYSE CX traded up $0.03 during trading on Tuesday, hitting $5.64. 5,220,072 shares of the stock traded hands, compared to its average volume of 9,753,619. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. CEMEX, S.A.B. de C.V. has a 12-month low of $5.00 and a 12-month high of $9.27. The firm has a 50-day simple moving average of $6.17 and a 200-day simple moving average of $5.89. The company has a market capitalization of $8.17 billion, a P/E ratio of 8.94 and a beta of 1.45.

CEMEX (NYSE:CX - Get Free Report) last posted its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. As a group, analysts predict that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were given a dividend of $0.0207 per share. The ex-dividend date of this dividend was Monday, March 10th. CEMEX's dividend payout ratio is currently 12.70%.

CEMEX Company 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.