State of New Jersey Common Pension Fund D Takes Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

State of New Jersey Common Pension Fund D purchased a new position in CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 702,612 shares of the construction company's stock, valued at approximately $4,286,000.

Several other large investors have also recently made changes to their positions in CX. AQR Capital Management LLC raised its stake in shares of CEMEX by 28.4% in the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company's stock valued at $121,113,000 after acquiring an additional 4,217,562 shares in the last quarter. RWC Asset Advisors US LLC increased its holdings in CEMEX by 32.3% during the 2nd quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company's stock worth $99,398,000 after purchasing an additional 3,796,262 shares during the last quarter. Carrhae Capital LLP acquired a new stake in CEMEX during the third quarter worth about $11,374,000. Perpetual Ltd increased its stake in CEMEX by 12.6% during the 3rd quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company's stock valued at $61,089,000 after buying an additional 1,117,379 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in shares of CEMEX by 6,721.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 867,845 shares of the construction company's stock worth $5,546,000 after acquiring an additional 855,122 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

CEMEX Stock Down 2.4 %

NYSE CX traded down $0.13 during trading on Wednesday, hitting $5.32. The stock had a trading volume of 16,098,538 shares, compared to its average volume of 8,815,526. CEMEX, S.A.B. de C.V. has a 12 month low of $5.00 and a 12 month high of $9.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98. The company's 50-day moving average price is $5.88 and its two-hundred day moving average price is $6.46. The company has a market capitalization of $7.71 billion, a PE ratio of 17.73 and a beta of 1.49.

CEMEX Cuts Dividend

The company also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were given a $0.021 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, September 13th. CEMEX's payout ratio is 13.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CX. JPMorgan Chase & Co. downgraded shares of CEMEX from an "overweight" rating to a "neutral" rating and cut their target price for the company from $7.00 to $6.00 in a research note on Tuesday, October 29th. Barclays dropped their price objective on shares of CEMEX from $9.00 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. StockNews.com lowered shares of CEMEX from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 11th. Scotiabank dropped their price target on CEMEX from $10.00 to $8.90 and set a "sector outperform" rating for the company in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada dropped their target price on shares of CEMEX from $6.50 to $6.00 and set a "sector perform" rating for the company in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $7.82.

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.