IPG Investment Advisors LLC Has $19.31 Million Stock Holdings 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 lessened its position in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,441,108 shares of the construction company's stock after selling 84,385 shares during the period. Cemex comprises approximately 4.4% of IPG Investment Advisors LLC's holdings, making the stock its 5th biggest holding. IPG Investment Advisors LLC owned about 0.24% of Cemex worth $19,305,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CX. LPL Financial LLC increased its stake in shares of Cemex by 12.8% in the fourth quarter. LPL Financial LLC now owns 190,591 shares of the construction company's stock valued at $1,075,000 after buying an additional 21,617 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cemex by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 3,863,502 shares of the construction company's stock valued at $21,790,000 after purchasing an additional 53,269 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Cemex by 38.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 20,854 shares of the construction company's stock valued at $118,000 after purchasing an additional 5,767 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Cemex during the 4th quarter valued at about $63,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Cemex by 4.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,142,193 shares of the construction company's stock valued at $6,442,000 after purchasing an additional 51,967 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bradesco Corretora set a $7.50 target price on Cemex and gave the company a "neutral" rating in a research report on Tuesday, April 15th. 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 report on Tuesday, April 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 lowered Cemex from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Barclays boosted their target price on Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $7.91.

Cemex Stock Performance

CX traded up $0.07 during trading on Wednesday, hitting $8.40. The stock had a trading volume of 8,707,720 shares, compared to its average volume of 14,010,022. The company has a 50 day moving average price of $7.33 and a 200-day moving average price of $6.52. The firm has a market cap of $12.17 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 0.89 and a beta of 1.40. Cemex S.A.B. de C.V. has a one year low of $4.89 and a one year high of $8.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61.

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

Cemex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 17th. Cemex's dividend payout ratio is presently 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.