Raymond James Financial Inc. Purchases Shares of 253,025 CEMEX, S.A.B. de C.V. (NYSE:CX)

Raymond James Financial Inc. acquired a new stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 253,025 shares of the construction company's stock, valued at approximately $1,427,000.

A number of other large investors have also added to or reduced their stakes in CX. JPMorgan Chase & Co. grew its holdings in shares of CEMEX by 123.7% during the third quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company's stock valued at $88,093,000 after buying an additional 7,986,204 shares during the last quarter. RWC Asset Advisors US LLC lifted its position in CEMEX by 6.4% in the 4th quarter. RWC Asset Advisors US LLC now owns 12,039,601 shares of the construction company's stock valued at $67,903,000 after acquiring an additional 719,735 shares in the last quarter. RWC Asset Management LLP boosted its stake in CEMEX by 46.1% during the 4th quarter. RWC Asset Management LLP now owns 5,862,677 shares of the construction company's stock valued at $33,065,000 after purchasing an additional 1,848,597 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of CEMEX in the 3rd quarter worth $9,037,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of CEMEX by 51.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,067,115 shares of the construction company's stock worth $6,019,000 after purchasing an additional 364,503 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley cut CEMEX from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, March 26th. The Goldman Sachs Group raised their price target on shares of CEMEX from $8.00 to $9.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada boosted their price objective on shares of CEMEX from $5.00 to $6.00 and gave the company an "underperform" rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.82.

CEMEX Stock Performance

NYSE CX traded down $0.41 during trading hours on Friday, hitting $5.15. 47,618,384 shares of the company's stock traded hands, compared to its average volume of 9,994,597. CEMEX, S.A.B. de C.V. has a 52 week low of $4.97 and a 52 week high of $9.00. The firm has a market capitalization of $7.47 billion, a P/E ratio of 8.18 and a beta of 1.28. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The business's fifty day moving average price is $6.16 and its two-hundred day moving average price is $5.87.

CEMEX (NYSE:CX - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. Equities research 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 disclosed 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 was Monday, March 10th. CEMEX's 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.