Advisors Asset Management Inc. Buys 71,498 Shares of Cemex S.A.B. de C.V. $CX

Key Points

• Advisors Asset Management Inc. increased its stake in Cemex S.A.B. de C.V. by 10.6%, acquiring an additional 71,498 shares during the first quarter, bringing its total ownership to 743,774 shares valued at approximately $4.17 million.
• Cemex's stock opened at $9.42, reflecting a market capitalization of $13.64 billion, with a PE ratio of 9.23 and a projected EPS of 0.69 for the current year.
• The company recently declared a quarterly dividend of $0.0224 per share, resulting in an annualized yield of 1.0% and a dividend payout ratio of 7.84%.

Advisors Asset Management Inc. grew its stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 10.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 743,774 shares of the construction company's stock after acquiring an additional 71,498 shares during the quarter. Advisors Asset Management Inc. owned 0.05% of Cemex worth $4,173,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Cemex by 137.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,252 shares of the construction company's stock valued at $175,000 after purchasing an additional 18,114 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Cemex by 21.0% during the first quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company's stock valued at $81,000 after purchasing an additional 2,505 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Cemex by 2.9% during the first quarter. American Century Companies Inc. now owns 3,645,959 shares of the construction company's stock valued at $20,454,000 after purchasing an additional 104,172 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Cemex by 11.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 71,452 shares of the construction company's stock valued at $401,000 after purchasing an additional 7,119 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Cemex by 1,188.4% during the first quarter. GAMMA Investing LLC now owns 21,155 shares of the construction company's stock valued at $119,000 after purchasing an additional 19,513 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Cemex Stock Up 2.0%

Cemex stock opened at $9.42 on Friday. The stock has a market cap of $13.64 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 1.49 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86. Cemex S.A.B. de C.V. has a one year low of $4.89 and a one year high of $9.44. The stock has a fifty day moving average of $8.24 and a 200 day moving average of $6.94.

Cemex (NYSE:CX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. The business had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. Cemex had a return on equity of 6.89% and a net margin of 9.61%. As a group, sell-side 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 declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were given a $0.0224 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.09 dividend on an annualized basis and a yield of 1.0%. Cemex's dividend payout ratio is presently 7.84%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CX. Bank of America upped their price target on Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a report on Wednesday. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and upped their price target for the company from $8.10 to $10.50 in a report on Tuesday, August 26th. Barclays upped their price target on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, Scotiabank reiterated an "outperform" rating on shares of Cemex in a research report on Tuesday. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $9.02.

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.

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