Harbour Capital Advisors LLC Takes Position in Cemex S.A.B. de C.V. (NYSE:CX)

Harbour Capital Advisors LLC bought a new stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 123,595 shares of the construction company's stock, valued at approximately $687,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in Cemex by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock valued at $28,000 after acquiring an additional 3,062 shares during the last quarter. Barclays PLC lifted its stake in shares of Cemex by 56.2% during the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company's stock worth $55,000 after purchasing an additional 3,510 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Cemex during the fourth quarter worth about $57,000. Dark Forest Capital Management LP acquired a new position in shares of Cemex during the fourth quarter worth about $59,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of Cemex during the fourth quarter worth about $59,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CX shares. The Goldman Sachs Group boosted their price objective on Cemex from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a research note on Saturday, May 3rd. Itau BBA Securities cut Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Morgan Stanley cut Cemex from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. boosted their price target on Cemex from $6.00 to $6.80 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $7.58.

Cemex Stock Down 0.4%

Cemex stock traded down $0.03 during midday trading on Friday, hitting $6.81. The stock had a trading volume of 8,300,801 shares, compared to its average volume of 11,938,667. The company has a current ratio of 0.85, a quick ratio of 0.60 and a debt-to-equity ratio of 0.44. The stock has a market cap of $9.86 billion, a P/E ratio of 7.09, a P/E/G ratio of 1.13 and a beta of 1.40. Cemex S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $7.34. The business has a fifty day moving average price of $6.63 and a 200 day moving average price of $6.12.

Cemex (NYSE:CX - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. The firm had revenue of $186.46 million during the quarter, compared to analyst estimates of $214.59 million. Cemex had a return on equity of 6.47% and a net margin of 8.84%. Research analysts predict that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a $0.0224 dividend. This represents a $0.09 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex's dividend payout ratio is currently 8.33%.

About Cemex

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.