Cemex S.A.B. de C.V. $CX Stake Lifted 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 boosted its stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,785,660 shares of the construction company's stock after buying an additional 77,898 shares during the period. Northern Trust Corp owned 0.12% of Cemex worth $10,018,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. increased its position in Cemex by 88.9% in the first quarter. Thompson Davis & CO. Inc. now owns 34,000 shares of the construction company's stock worth $191,000 after buying an additional 16,000 shares during the period. American Century Companies Inc. increased its position in Cemex by 2.9% in 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 during the period. Fox Run Management L.L.C. acquired a new stake in Cemex in the first quarter worth $199,000. Boston Partners acquired a new stake in Cemex in the first quarter worth $6,363,000. Finally, Russell Investments Group Ltd. increased its position in Cemex by 118.0% in the first quarter. Russell Investments Group Ltd. now owns 4,229,941 shares of the construction company's stock worth $23,730,000 after buying an additional 2,289,557 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CX. Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $8.10 to $10.50 in a research report on Tuesday, August 26th. Wall Street Zen raised 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 Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Scotiabank reissued an "outperform" rating on shares of Cemex in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cemex has a consensus rating of "Hold" and an average target price of $9.02.

Cemex Price Performance

NYSE:CX opened at $9.42 on Friday. The business's 50-day moving average price is $8.24 and its 200 day moving average price is $6.94. The firm has a market cap of $13.64 billion, a P/E ratio of 9.23, a PEG ratio of 1.49 and a beta of 1.43. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $9.44. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX - Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were paid a $0.0224 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 7.84%.

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.

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