Principal Financial Group Inc. Has $127.70 Million Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Principal Financial Group Inc. boosted its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,983,888 shares of the construction company's stock after purchasing an additional 112,479 shares during the quarter. Principal Financial Group Inc. owned about 1.38% of CEMEX worth $127,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D boosted its position in shares of CEMEX by 2.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 177,558 shares of the construction company's stock worth $1,376,000 after purchasing an additional 3,512 shares during the last quarter. Headlands Technologies LLC boosted its holdings in CEMEX by 1,301.3% during the fourth quarter. Headlands Technologies LLC now owns 11,631 shares of the construction company's stock worth $90,000 after buying an additional 10,801 shares during the last quarter. Robertson Stephens Wealth Management LLC acquired a new position in shares of CEMEX during the 4th quarter worth about $11,261,000. Fisher Asset Management LLC grew its position in shares of CEMEX by 3,180.2% during the 4th quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company's stock worth $85,000 after buying an additional 10,590 shares during the period. Finally, SouthState Corp increased its stake in shares of CEMEX by 3,387.4% in the 4th quarter. SouthState Corp now owns 12,206 shares of the construction company's stock valued at $95,000 after acquiring an additional 11,856 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

CEMEX Stock Up 1.3 %

CX stock traded up $0.08 during trading hours on Friday, reaching $6.13. 11,285,809 shares of the stock were exchanged, compared to its average volume of 7,932,955. The firm's 50-day moving average is $6.37 and its 200-day moving average is $7.36. CEMEX, S.A.B. de C.V. has a 12 month low of $5.66 and a 12 month high of $9.27. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 43.79 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65.

CEMEX (NYSE:CX - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. The business had revenue of $4.49 billion during the quarter. On average, equities research analysts expect that CEMEX, S.A.B. de C.V. will post 0.85 earnings per share for the current year.

CEMEX Announces Dividend

The firm also recently disclosed a Variable dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were issued a $0.349 dividend. The ex-dividend date was Monday, June 17th. CEMEX's dividend payout ratio (DPR) is presently 14.29%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CX. Barclays upgraded shares of CEMEX from an "equal weight" rating to an "overweight" rating and set a $9.00 price objective for the company in a report on Wednesday, July 31st. Royal Bank of Canada assumed coverage on shares of CEMEX in a research report on Tuesday, May 14th. They issued an "underperform" rating and a $9.00 price objective for the company. The Goldman Sachs Group initiated coverage on CEMEX in a report on Wednesday, July 10th. They set a "buy" rating and a $9.00 target price on the stock. StockNews.com upgraded CEMEX from a "buy" rating to a "strong-buy" rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a $8.00 price objective on shares of CEMEX in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $8.70.

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.