IPG Investment Advisors LLC Trims Stock Position in Cemex S.A.B. de C.V. (NYSE:CX)

Key Points

• IPG Investment Advisors LLC owns **3,441,108 shares** of Cemex, making it the firm's **5th largest position** and accounting for **4.4%** of its portfolio.
• Cemex reported an **earnings per share (EPS)** of **$0.23**, exceeding estimates, while the company's revenue for the quarter was **$4.13 billion**, slightly below the expected **$4.20 billion**.
• Several analysts have **raised their price targets** for Cemex, with Barclays setting a new target of **$10.00**, indicating an **"overweight"** rating, while overall analyst consensus remains a **"Hold"** with a target of **$7.91**.

IPG Investment Advisors LLC cut its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,441,108 shares of the construction company's stock after selling 84,385 shares during the quarter. Cemex makes up 4.4% of IPG Investment Advisors LLC's portfolio, making the stock its 5th largest holding. IPG Investment Advisors LLC owned about 0.24% of Cemex worth $19,305,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of Cemex by 137.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,252 shares of the construction company's stock valued at $175,000 after buying an additional 18,114 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Cemex by 21.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company's stock valued at $81,000 after acquiring an additional 2,505 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Cemex by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,863,502 shares of the construction company's stock worth $21,790,000 after acquiring an additional 53,269 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Cemex during the fourth quarter worth approximately $63,000. Finally, Bank of Montreal Can lifted its position in shares of Cemex by 22.2% during the fourth quarter. Bank of Montreal Can now owns 46,534 shares of the construction company's stock worth $262,000 after purchasing an additional 8,453 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Cemex Trading Up 1.1%

Shares of NYSE:CX traded up $0.10 during midday trading on Friday, hitting $8.67. The company had a trading volume of 7,575,628 shares, compared to its average volume of 13,032,177. The firm has a fifty day simple moving average of $7.39 and a 200 day simple moving average of $6.56. The stock has a market cap of $12.56 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 0.90 and a beta of 1.40. 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 12 month low of $4.89 and a 12 month high of $8.79.

Cemex (NYSE:CX - Get Free Report) last issued 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 analysts' expectations of $4.20 billion. Cemex had a return on equity of 6.89% and a net margin of 9.61%. On average, analysts predict that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid a $0.0224 dividend. 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 presently 7.84%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Itau BBA Securities lowered shares of Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. JPMorgan Chase & Co. lifted their target price on Cemex from $6.00 to $6.80 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. Bradesco Corretora set a $7.50 target price on Cemex and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Wall Street Zen cut Cemex from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Royal Bank Of Canada lifted their price objective on Cemex from $5.00 to $5.25 and gave the stock an "underperform" rating in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.91.

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.