Amundi Increases Holdings in Cemex S.A.B. de C.V. $CX

Key Points

• Amundi increased its Cemex stake by 9.3% in the first quarter, adding 264,248 shares to own 3.12 million shares valued at approximately $35.6 million. Institutional investors collectively own 82.97% of Cemex.
• Analyst sentiment is favorable, with seven Buy ratings and five Holds giving Cemex a “Moderate Buy” consensus and an average price target of $13.07. Several firms recently raised their targets, including Barclays to $16.00.
• Cemex reported quarterly EPS of $0.24 on $4.59 billion in revenue and increased its quarterly dividend to $0.0312 per share, equivalent to an annualized yield of about 1.1%.

Amundi lifted its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 9.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,115,879 shares of the construction company's stock after purchasing an additional 264,248 shares during the quarter. Amundi owned 0.22% of Cemex worth $35,646,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CX. NFSG Corp boosted its holdings in Cemex by 123.5% in the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company's stock valued at $33,000 after purchasing an additional 1,579 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Cemex in the 4th quarter valued at about $34,000. WealthCollab LLC raised its holdings in shares of Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company's stock valued at $26,000 after acquiring an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock valued at $30,000 after acquiring an additional 3,093 shares during the last quarter. Finally, Militia Capital Partners LP bought a new stake in shares of Cemex during the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CX. Scotiabank lifted their target price on shares of Cemex from $14.10 to $14.50 and gave the company an "outperform" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada increased their price target on shares of Cemex from $12.75 to $13.50 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Wall Street Zen upgraded shares of Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Santander upgraded shares of Cemex to an "outperform" rating in a research report on Thursday, June 11th. Finally, Barclays lifted their price objective on shares of Cemex from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.07.

Cemex Trading Up 0.3%

NYSE:CX opened at $11.86 on Tuesday. The firm has a market capitalization of $17.18 billion, a P/E ratio of 34.87 and a beta of 1.53. The company has a quick ratio of 0.68, a current ratio of 0.92 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $12.49 and a 200 day moving average of $12.22. Cemex S.A.B. de C.V. has a 52 week low of $8.17 and a 52 week high of $13.67.

Cemex (NYSE:CX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $4.59 billion for the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. On average, research analysts predict that Cemex S.A.B. de C.V. will post 0.87 earnings per share for the current year.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were given a dividend of $0.0312 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, June 17th. This is a positive change from Cemex's previous quarterly dividend of $0.02. Cemex's dividend payout ratio is currently 35.29%.

Cemex Company Profile

Cemex NYSE: CX is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex's product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.

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