Cemex S.A.B. de C.V. $CX Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLC significantly increased its stake in Cemex S.A.B. de C.V. by 62.8%, acquiring over 603,000 shares in the first quarter, bringing its total ownership to approximately $8.8 million.
• Cemex's stock performance has seen recent fluctuations, with shares opening at $8.94, marking a 0.4% decline, although the company reported a quarterly earnings per share (EPS) of $0.23, exceeding estimates.
• Several Wall Street analysts have recently revised their ratings on Cemex, with Barclays raising its price target from $9 to $10, while others have made downgrades, reflecting varied sentiment about the company's future performance.

Wellington Management Group LLP raised its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 62.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,564,602 shares of the construction company's stock after purchasing an additional 603,513 shares during the period. Wellington Management Group LLP owned about 0.11% of Cemex worth $8,777,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CX. Wayfinding Financial LLC bought a new stake in Cemex during the 1st quarter valued at $29,000. Barclays PLC raised its position in Cemex by 56.2% during the 4th quarter. Barclays PLC now owns 9,759 shares of the construction company's stock valued at $55,000 after purchasing an additional 3,510 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Cemex during the 4th quarter valued at $59,000. Raiffeisen Bank International AG bought a new stake in Cemex during the 4th quarter valued at $59,000. Finally, Westfuller Advisors LLC bought a new stake in Cemex during the 1st quarter valued at $62,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th. Barclays lifted their target price on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. Wall Street Zen raised Cemex from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Scotiabank boosted their price target on Cemex from $8.10 to $10.90 and gave the stock a "sector outperform" rating in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.86.

Cemex Stock Down 0.8%

Shares of CX traded down $0.08 during trading hours on Tuesday, hitting $9.02. The company had a trading volume of 1,044,512 shares, compared to its average volume of 12,863,594. The company has a market capitalization of $13.06 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 0.95 and a beta of 1.43. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. Cemex S.A.B. de C.V. has a one year low of $4.89 and a one year high of $9.19. The company's fifty day moving average price is $8.05 and its two-hundred day moving average price is $6.87.

Cemex (NYSE:CX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.20 billion. As a group, equities analysts forecast that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were given a dividend of $0.0224 per share. This represents a $0.09 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex's dividend payout ratio is currently 7.84%.

About Cemex

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.