Lazard Asset Management LLC Has $46.29 Million Holdings in Cemex S.A.B. de C.V. $CX

Key Points

• Lazard Asset Management increased its Cemex stake by 14.4% in the first quarter, acquiring 508,016 additional shares for a total holding valued at $46.29 million. Institutional investors collectively own 82.97% of CX.
• Cemex reported quarterly revenue of $4.59 billion and earnings of $0.24 per share, while analysts project $0.87 in full-year EPS. The company also raised its quarterly dividend to $0.0312 per share, implying a 1.0% yield.
• Analyst sentiment is generally positive, with seven Buy ratings and five Holds; Cemex has a consensus “Moderate Buy” rating and an average price target of $13.07, compared with a recent share price of $12.24.

Lazard Asset Management LLC lifted its position in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 14.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,046,527 shares of the construction company's stock after purchasing an additional 508,016 shares during the quarter. Lazard Asset Management LLC owned 0.28% of Cemex worth $46,292,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CX. Sequoia Financial Advisors LLC increased its holdings in Cemex by 5.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company's stock valued at $193,000 after buying an additional 913 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Cemex by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company's stock worth $2,875,000 after acquiring an additional 1,221 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cemex by 4.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company's stock worth $329,000 after acquiring an additional 1,288 shares during the period. Ieq Capital LLC boosted its position in shares of Cemex by 7.6% during the 4th quarter. Ieq Capital LLC now owns 19,598 shares of the construction company's stock valued at $225,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Cemex by 3.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company's stock valued at $387,000 after acquiring an additional 1,389 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Cemex Stock Performance

Shares of NYSE:CX opened at $12.24 on Tuesday. Cemex S.A.B. de C.V. has a twelve month low of $8.15 and a twelve month high of $13.67. The firm has a market cap of $17.73 billion, a PE ratio of 35.99 and a beta of 1.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.92. The business has a fifty day moving average of $12.56 and a 200-day moving average of $12.23.

Cemex (NYSE:CX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. The business had revenue of $4.59 billion for the quarter. On average, equities research analysts predict that Cemex S.A.B. de C.V. will post 0.87 EPS for the current fiscal year.

Cemex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th were given a dividend of $0.0312 per share. The ex-dividend date was Wednesday, June 17th. This is a positive change from Cemex's previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.0%. Cemex's dividend payout ratio (DPR) is currently 35.29%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CX shares. Barclays increased their price target on shares of Cemex from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Friday. Weiss Ratings reissued a "hold (c-)" rating on shares of Cemex in a report on Tuesday, May 26th. Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Scotiabank boosted their price target on Cemex from $14.10 to $14.50 and gave the company an "outperform" rating in a research note on Tuesday, July 14th. Finally, Santander raised Cemex to an "outperform" rating in a research note on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.07.

Cemex Profile

Cemex NYSE: CX is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex's product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.

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