390,000 Shares in Cemex S.A.B. de C.V. (NYSE:CX) Acquired by National Bank of Canada FI

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 stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 390,000 shares of the construction company's stock, valued at approximately $2,188,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Cemex by 7.4% in the first quarter. Allworth Financial LP now owns 27,651 shares of the construction company's stock worth $157,000 after purchasing an additional 1,906 shares in the last quarter. Natixis Advisors LLC grew its stake in Cemex by 0.6% in the first quarter. Natixis Advisors LLC now owns 360,898 shares of the construction company's stock worth $2,025,000 after purchasing an additional 2,122 shares in the last quarter. Cetera Investment Advisers grew its stake in Cemex by 8.4% in the fourth quarter. Cetera Investment Advisers now owns 31,652 shares of the construction company's stock worth $179,000 after purchasing an additional 2,452 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Cemex by 21.0% in the first 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 in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in Cemex by 3.4% in the first quarter. Legacy Wealth Asset Management LLC now owns 77,957 shares of the construction company's stock worth $437,000 after purchasing an additional 2,570 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank Of Canada lifted their price target on Cemex from $5.00 to $5.25 and gave the stock an "underperform" rating in a research note on Tuesday, April 29th. Barclays upped their target price on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. JPMorgan Chase & Co. upped their target price on Cemex from $6.00 to $6.80 and gave the company a "neutral" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen lowered Cemex from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Cemex has a consensus rating of "Hold" and a consensus price target of $7.91.

Cemex Stock Performance

Shares of NYSE CX traded up $0.05 during midday trading on Friday, hitting $8.55. 5,849,491 shares of the company's stock were exchanged, compared to its average volume of 13,982,582. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61. The stock's 50 day moving average price is $7.61 and its 200-day moving average price is $6.68. The firm has a market cap of $12.39 billion, a P/E ratio of 8.38, a PEG ratio of 0.91 and a beta of 1.40. Cemex S.A.B. de C.V. has a twelve month low of $4.89 and a twelve month high of $8.83.

Cemex (NYSE:CX - Get Free Report) last issued its quarterly earnings data 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 business 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%. Equities research analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Announces Dividend

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

Cemex 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.