Harbour Capital Advisors LLC Makes New $687,000 Investment in Cemex S.A.B. de C.V. (NYSE:CX)

Harbour Capital Advisors LLC bought a new position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 123,595 shares of the construction company's stock, valued at approximately $687,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Allworth Financial LP lifted its stake in Cemex by 289.7% in the fourth quarter. Allworth Financial LP now owns 25,745 shares of the construction company's stock valued at $144,000 after buying an additional 19,139 shares during the last quarter. South Dakota Investment Council boosted its stake in Cemex by 43,530.9% during the 4th quarter. South Dakota Investment Council now owns 936,319 shares of the construction company's stock valued at $5,281,000 after purchasing an additional 934,173 shares during the period. RWC Asset Advisors US LLC grew its position in Cemex by 6.4% in the 4th quarter. RWC Asset Advisors US LLC now owns 12,039,601 shares of the construction company's stock worth $67,903,000 after purchasing an additional 719,735 shares during the last quarter. RWC Asset Management LLP increased its stake in shares of Cemex by 46.1% in the fourth quarter. RWC Asset Management LLP now owns 5,862,677 shares of the construction company's stock valued at $33,065,000 after purchasing an additional 1,848,597 shares during the period. Finally, IFP Advisors Inc raised its holdings in shares of Cemex by 159.1% during the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock valued at $28,000 after buying an additional 3,062 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CX shares. 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. Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. The Goldman Sachs Group upped their price objective on shares of Cemex from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on shares of Cemex from $6.00 to $6.80 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley downgraded shares of Cemex from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.58.

Cemex Price Performance

NYSE CX traded down $0.20 on Wednesday, reaching $6.74. The company's stock had a trading volume of 8,403,296 shares, compared to its average volume of 11,882,233. Cemex S.A.B. de C.V. has a twelve month low of $4.89 and a twelve month high of $7.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.60 and a current ratio of 0.85. The firm's 50 day moving average is $6.54 and its two-hundred day moving average is $6.10. The stock has a market cap of $9.77 billion, a PE ratio of 7.02, a PEG ratio of 1.30 and a beta of 1.40.

Cemex (NYSE:CX - Get Free Report) last released its earnings results on Monday, April 28th. The construction company reported $0.08 EPS for the quarter. The business had revenue of $186.46 million during the quarter, compared to analyst estimates of $214.59 million. Cemex had a net margin of 8.84% and a return on equity of 6.47%. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 17th will be given a $0.0224 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.33%. Cemex's dividend payout ratio (DPR) is 8.33%.

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.