National Bank of Canada FI Takes Position in Cemex S.A.B. de C.V. $CX

Key Points

• National Bank of Canada FI has acquired 390,000 shares of Cemex S.A.B. de C.V. valued at approximately $2.19 million, indicating a substantial investment in the construction company.
• Several institutional investors, including Allworth Financial LP and Oppenheimer & Co. Inc., have increased their holdings in Cemex, with hedge funds collectively owning 82.97% of the stock.
• Recent analyst reports have mixed ratings on Cemex, with a target price range of $5.25 to $10.00 and an average consensus rating of "Hold."

National Bank of Canada FI acquired a new position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 390,000 shares of the construction company's stock, valued at approximately $2,188,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in Cemex during the 1st quarter worth $234,000. Vanguard Group Inc. increased its position in Cemex by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,908,186 shares of the construction company's stock valued at $21,925,000 after buying an additional 44,684 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in Cemex by 40.9% in the 1st quarter. Thoroughbred Financial Services LLC now owns 16,525 shares of the construction company's stock valued at $92,000 after buying an additional 4,800 shares in the last quarter. Banco Santander S.A. increased its position in Cemex by 49.6% in the 1st quarter. Banco Santander S.A. now owns 20,793 shares of the construction company's stock valued at $117,000 after buying an additional 6,893 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Cemex during the 1st quarter worth approximately $96,000. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Cemex from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Barclays increased their target price on Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. increased their price objective on Cemex from $6.00 to $6.80 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. Finally, Royal Bank Of Canada raised their price target on Cemex from $5.00 to $5.25 and gave the company an "underperform" rating in a research report on Tuesday, April 29th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $7.91.

Cemex Stock Up 0.4%

Cemex stock traded up $0.0350 during trading hours on Tuesday, hitting $8.6750. 3,937,514 shares of the stock traded hands, compared to its average volume of 12,831,179. The firm's 50-day moving average price is $7.64 and its two-hundred day moving average price is $6.70. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The company has a market cap of $12.57 billion, a PE ratio of 8.50, a PEG ratio of 0.91 and a beta of 1.40. Cemex S.A.B. de C.V. has a one year low of $4.89 and a one year high of $8.83.

Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $4.13 billion for the quarter, compared to analysts' expectations of $4.20 billion. Cemex had a return on equity of 6.89% and a net margin of 9.61%. On average, research analysts forecast that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were issued a dividend of $0.0224 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, June 17th. Cemex's dividend payout ratio (DPR) is presently 7.84%.

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.