Bastion Asset Management Inc. bought a new stake in CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 568,125 shares of the construction company's stock, valued at approximately $3,285,000. CEMEX makes up 2.2% of Bastion Asset Management Inc.'s holdings, making the stock its 20th biggest position.
Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc raised its position in shares of CEMEX by 159.1% in 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 during the period. Barclays PLC raised its holdings in CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company's stock valued at $38,000 after acquiring an additional 1,843 shares during the period. Townsquare Capital LLC acquired a new stake in CEMEX during the fourth quarter worth approximately $57,000. Dark Forest Capital Management LP acquired a new position in shares of CEMEX in the fourth quarter valued at approximately $59,000. Finally, Franklin Resources Inc. acquired a new position in shares of CEMEX in the fourth quarter valued at approximately $63,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CX has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on CEMEX from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on shares of CEMEX from $6.00 to $6.80 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. Morgan Stanley lowered shares of CEMEX from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, March 26th. Royal Bank of Canada boosted their price objective on shares of CEMEX from $5.00 to $5.25 and gave the company an "underperform" rating in a report on Tuesday, April 29th. Finally, StockNews.com raised shares of CEMEX from a "hold" rating to a "buy" rating in a report on Saturday. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $7.58.
Check Out Our Latest Analysis on CEMEX
CEMEX Trading Up 4.0 %
CEMEX stock traded up $0.25 during trading hours on Wednesday, hitting $6.44. The stock had a trading volume of 23,744,399 shares, compared to its average volume of 10,989,807. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 10.22 and a beta of 1.41. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. The business's 50 day simple moving average is $5.77 and its 200-day simple moving average is $5.79. CEMEX, S.A.B. de C.V. has a one year low of $4.89 and a one year high of $8.10.
CEMEX (NYSE:CX - Get Free Report) last posted its earnings results on Monday, April 28th. The construction company reported $0.08 EPS for the quarter. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. The business had revenue of $186.46 million for the quarter, compared to the consensus estimate of $214.59 million. On average, equities analysts predict that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.
CEMEX Dividend Announcement
The business also recently disclosed a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were paid a $0.0207 dividend. The ex-dividend date was Monday, March 10th. CEMEX's dividend payout ratio is currently 8.33%.
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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