Everstar Asset Management LLC Has $240,000 Stock Holdings in Cemex S.A.B. de C.V. $CX

Key Points

• Everstar Asset Management LLC increased its stake in Cemex S.A.B. de C.V. by 189.4% during the first quarter, bringing its total holdings to 42,783 shares valued at $240,000.
• Institutional investors now own approximately 82.97% of Cemex's stock, with Dodge & Cox increasing their holdings by 41.7% in the same quarter.
• Cemex recently declared a quarterly dividend of $0.0224 per share, which will be paid on September 25th, representing a 0.9% yield.

Everstar Asset Management LLC lifted its holdings in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 189.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,783 shares of the construction company's stock after purchasing an additional 28,000 shares during the period. Everstar Asset Management LLC's holdings in Cemex were worth $240,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Cemex by 137.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 31,252 shares of the construction company's stock worth $175,000 after purchasing an additional 18,114 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Cemex by 21.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company's stock worth $81,000 after purchasing an additional 2,505 shares during the last quarter. Northern Trust Corp grew its stake in shares of Cemex by 4.6% in the 1st quarter. Northern Trust Corp now owns 1,785,660 shares of the construction company's stock worth $10,018,000 after purchasing an additional 77,898 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Cemex by 2.9% in the 1st quarter. American Century Companies Inc. now owns 3,645,959 shares of the construction company's stock worth $20,454,000 after purchasing an additional 104,172 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Cemex by 11.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 71,452 shares of the construction company's stock worth $401,000 after purchasing an additional 7,119 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Cemex Stock Down 1.2%

Shares of CX stock traded down $0.11 during trading on Friday, hitting $9.38. 7,090,084 shares of the company were exchanged, compared to its average volume of 11,432,604. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86. The firm has a market capitalization of $13.59 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 1.51 and a beta of 1.43. The business's 50-day simple moving average is $8.47 and its 200 day simple moving average is $7.05. 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 posted 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. The business had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. Cemex had a net margin of 9.61% and a return on equity of 6.89%. As a group, analysts forecast that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 17th will be issued a dividend of $0.0224 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 17th. Cemex's dividend payout ratio (DPR) is currently 8.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Cemex from $8.60 to $10.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Itau BBA Securities cut shares of Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Cemex from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. JPMorgan Chase & Co. upgraded shares of Cemex from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $8.10 to $10.50 in a report on Tuesday, August 26th. Finally, Barclays raised their target price on shares of Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $9.02.

Cemex 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.