Mackenzie Financial Corp Purchases Shares of 741,431 Cemex S.A.B. de C.V. (NYSE:CX)

Key Points

• Mackenzie Financial Corp has acquired a new position in Cemex S.A.B. de C.V., purchasing approximately 741,431 shares valued at around $4.16 million.
• Cemex recently reported an earnings per share of $0.23, exceeding expectations, and had a revenue of $4.13 billion for the last quarter.
• The company announced a quarterly dividend of $0.0224 per share, reflecting an annualized dividend yield of 1.1%.

Mackenzie Financial Corp purchased a new position in 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. The firm purchased 741,431 shares of the construction company's stock, valued at approximately $4,159,000. Mackenzie Financial Corp owned about 0.05% of Cemex at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CX. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Cemex by 137.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 31,252 shares of the construction company's stock valued at $175,000 after buying an additional 18,114 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Cemex by 21.0% during 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. Vanguard Group Inc. grew its position in shares of Cemex by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 3,863,502 shares of the construction company's stock worth $21,790,000 after acquiring an additional 53,269 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Cemex in the 4th quarter worth approximately $63,000. Finally, Bank of Montreal Can grew its position in shares of Cemex by 22.2% in the 4th quarter. Bank of Montreal Can now owns 46,534 shares of the construction company's stock worth $262,000 after acquiring an additional 8,453 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Cemex Stock Up 0.8%

NYSE CX traded up $0.07 on Wednesday, reaching $8.40. The stock had a trading volume of 7,060,992 shares, compared to its average volume of 13,046,503. The business has a 50 day moving average price of $7.33 and a 200 day moving average price of $6.52. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. Cemex S.A.B. de C.V. has a 1 year low of $4.89 and a 1 year high of $8.79. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 0.88 and a beta of 1.40.

Cemex (NYSE:CX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The company 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%. On average, analysts forecast that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were given a dividend of $0.0224 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex's payout ratio is currently 7.84%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CX. Wall Street Zen lowered Cemex from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Barclays boosted their price objective on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada boosted their price objective on Cemex from $5.00 to $5.25 and gave the company an "underperform" 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. Finally, Bradesco Corretora set a $7.50 price target on Cemex and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Cemex presently has an average rating of "Hold" and a consensus target price of $7.91.

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.