Carrhae Capital LLP purchased a new position in CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,864,650 shares of the construction company's stock, valued at approximately $11,374,000. CEMEX comprises about 1.3% of Carrhae Capital LLP's investment portfolio, making the stock its 21st biggest holding. Carrhae Capital LLP owned 0.13% of CEMEX as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of CEMEX by 138.0% in the 3rd quarter. Blue Trust Inc. now owns 43,213 shares of the construction company's stock worth $276,000 after purchasing an additional 25,057 shares during the last quarter. Inspire Advisors LLC raised its position in CEMEX by 37.8% in the 3rd quarter. Inspire Advisors LLC now owns 24,181 shares of the construction company's stock worth $148,000 after buying an additional 6,628 shares during the last quarter. Marathon Asset Management Ltd raised its position in CEMEX by 6.2% in the 3rd quarter. Marathon Asset Management Ltd now owns 7,343,309 shares of the construction company's stock worth $44,794,000 after buying an additional 426,357 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in CEMEX in the 3rd quarter worth about $77,000. Finally, NBC Securities Inc. raised its position in CEMEX by 18.7% in the 3rd quarter. NBC Securities Inc. now owns 47,202 shares of the construction company's stock worth $287,000 after buying an additional 7,442 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on CX. StockNews.com lowered CEMEX from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 11th. Barclays raised CEMEX from an "equal weight" rating to an "overweight" rating and set a $9.00 target price for the company in a research report on Wednesday, July 31st. Royal Bank of Canada raised CEMEX from an "underperform" rating to a "sector perform" rating and decreased their target price for the stock from $9.00 to $6.50 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. decreased their target price on CEMEX from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group began coverage on shares of CEMEX in a research report on Wednesday, July 10th. They set a "buy" rating and a $9.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $8.12.
View Our Latest Research Report on CX
CEMEX Stock Performance
Shares of NYSE CX traded down $0.08 during midday trading on Monday, hitting $5.89. 7,469,597 shares of the company's stock traded hands, compared to its average volume of 8,406,418. CEMEX, S.A.B. de C.V. has a 1 year low of $5.50 and a 1 year high of $9.27. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 42.04 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.65 and a current ratio of 0.90. The firm has a fifty day moving average of $6.13 and a 200 day moving average of $6.79.
CEMEX (NYSE:CX - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. The company had revenue of $4.49 billion during the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. On average, analysts forecast that CEMEX, S.A.B. de C.V. will post 0.79 earnings per share for the current year.
CEMEX Cuts Dividend
The business also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were paid a dividend of $0.021 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX's dividend payout ratio (DPR) is presently 28.57%.
About CEMEX
(
Free Report)
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.
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