Massachusetts Financial Services Co. MA Makes New Investment in Cemex S.A.B. de C.V. $CX

Key Points

• Massachusetts Financial Services acquired 1,371,009 shares of Cemex (NYSE:CX) during the fourth quarter, a stake worth about $15.75 million that represents roughly 0.09% of the company, while institutional investors now own about 82.97% of the stock.
• Recent results and outlook: Cemex missed EPS (-$0.19 vs. $0.19 est.) but beat revenue ($4.18B vs. $4.01B), raised its quarterly dividend to $0.0225 (annualized $0.09, ~0.8% yield), and holds a consensus analyst rating of "Hold" with a $11.83 price target.

Massachusetts Financial Services Co. MA acquired a new position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,371,009 shares of the construction company's stock, valued at approximately $15,753,000. Massachusetts Financial Services Co. MA owned about 0.09% of Cemex as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CX. Jones Financial Companies Lllp grew its holdings in Cemex by 334.7% during the 1st quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company's stock worth $52,000 after acquiring an additional 7,075 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Cemex by 58.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company's stock worth $40,320,000 after acquiring an additional 2,661,030 shares during the last quarter. Cetera Investment Advisers grew its holdings in Cemex by 53.2% during the 2nd quarter. Cetera Investment Advisers now owns 57,269 shares of the construction company's stock worth $397,000 after acquiring an additional 19,878 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company's stock worth $30,000 after acquiring an additional 3,093 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Cemex by 57.1% during the 2nd quarter. Invesco Ltd. now owns 50,480 shares of the construction company's stock worth $350,000 after acquiring an additional 18,348 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CX. Barclays reissued an "overweight" rating on shares of Cemex in a report on Thursday, March 12th. Zacks Research lowered shares of Cemex from a "strong-buy" rating to a "hold" rating in a report on Monday, February 9th. HSBC lowered shares of Cemex from a "buy" rating to a "hold" rating and set a $12.80 price objective on the stock. in a report on Friday, February 6th. Scotiabank increased their price objective on shares of Cemex from $13.90 to $14.10 and gave the stock an "outperform" rating in a report on Friday, April 10th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Cemex in a report on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $11.83.

Cemex Stock Down 1.6%

Shares of NYSE CX opened at $11.68 on Friday. The firm has a market capitalization of $16.91 billion, a PE ratio of 17.69 and a beta of 1.60. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.39. Cemex S.A.B. de C.V. has a 1 year low of $5.18 and a 1 year high of $13.35. The firm's 50-day moving average is $11.62 and its 200-day moving average is $11.15.

Cemex (NYSE:CX - Get Free Report) last issued its earnings results on Thursday, February 5th. The construction company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.38). The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.01 billion. Cemex had a net margin of 5.93% and a return on equity of 2.85%. Equities analysts expect that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Wednesday, March 11th were paid a $0.0225 dividend. This is a boost from Cemex's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.09 annualized dividend and a dividend yield of 0.8%. Cemex's payout ratio is 13.64%.

Cemex Company 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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