Cemex S.A.B. de C.V. $CX Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Cemex S.A.B. de C.V. by 4.6% during the first quarter, now owning 1,785,660 shares valued at approximately $10 million.
• Cemex's stock has received mixed ratings from analysts, with JPMorgan Chase upgrading it to "overweight" and raising the target price, while Itau BBA Securities downgraded it to "market perform."
• The company reported earnings of $0.23 per share for the last quarter, surpassing expectations, but fell short on revenue with $4.13 billion compared to the $4.20 billion forecasted by analysts.

Northern Trust Corp grew its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 4.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,785,660 shares of the construction company's stock after purchasing an additional 77,898 shares during the period. Northern Trust Corp owned approximately 0.12% of Cemex worth $10,018,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position 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 worth $175,000 after buying an additional 18,114 shares in the last quarter. Oppenheimer & Co. Inc. grew its position 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 worth $81,000 after buying an additional 2,505 shares in the last quarter. American Century Companies Inc. grew its position 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 worth $20,454,000 after buying an additional 104,172 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position 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 worth $401,000 after buying an additional 7,119 shares in the last quarter. Finally, GAMMA Investing LLC grew its position 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 worth $119,000 after buying an additional 19,513 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

CX has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Bank of America raised their price target on shares of Cemex from $8.60 to $10.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Scotiabank reissued an "outperform" rating on shares of Cemex in a research report on Tuesday, September 2nd. Barclays raised their price target on shares of Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised shares of Cemex from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $8.10 to $10.50 in a research report on Tuesday, August 26th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.02.

Cemex Stock Performance

Cemex stock traded up $0.30 during mid-day trading on Thursday, reaching $9.48. The company's stock had a trading volume of 9,536,622 shares, compared to its average volume of 11,374,110. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.48 and a beta of 1.43. The business has a 50 day moving average price of $8.43 and a 200-day moving average price of $7.02. 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 twelve month low of $4.89 and a twelve month high of $9.55.

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

Cemex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 17th will be issued a dividend of $0.0224 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.09 annualized dividend and a dividend yield of 0.9%. Cemex's payout ratio is 8.82%.

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.