Northern Trust Corp grew its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 100.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,707,762 shares of the construction company's stock after buying an additional 857,802 shares during the quarter. Northern Trust Corp owned approximately 0.12% of CEMEX worth $9,632,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. IFP Advisors Inc increased its holdings in CEMEX by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock valued at $28,000 after purchasing an additional 3,062 shares during the period. Barclays PLC increased its holdings in CEMEX by 41.8% in the third quarter. Barclays PLC now owns 6,249 shares of the construction company's stock valued at $38,000 after purchasing an additional 1,843 shares during the period. Townsquare Capital LLC acquired a new stake in CEMEX in the fourth quarter valued at $57,000. Dark Forest Capital Management LP acquired a new stake in CEMEX in the fourth quarter valued at $59,000. Finally, Franklin Resources Inc. acquired a new stake in CEMEX in the fourth quarter valued at $63,000. Institutional investors own 82.97% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on CX shares. The Goldman Sachs Group increased their price target on CEMEX from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Morgan Stanley downgraded CEMEX from an "overweight" rating to an "equal weight" rating in a report on Wednesday, March 26th. Royal Bank of Canada increased their price target on CEMEX from $5.00 to $5.25 and gave the stock an "underperform" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of CEMEX from $6.00 to $6.80 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Finally, Bradesco Corretora set a $7.50 price objective on shares of 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, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $7.58.
Check Out Our Latest Analysis on CX
CEMEX Stock Up 2.0%
Shares of CX traded up $0.14 during trading hours on Tuesday, reaching $7.04. The stock had a trading volume of 11,150,621 shares, compared to its average volume of 11,363,774. CEMEX, S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $7.84. The firm has a 50-day simple moving average of $5.90 and a 200 day simple moving average of $5.87. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of 11.17 and a beta of 1.41.
CEMEX (NYSE:CX - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. The business had revenue of $186.46 million for the quarter, compared to analysts' expectations of $214.59 million. Equities research analysts predict that CEMEX, S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.
CEMEX Dividend Announcement
The firm also recently declared a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were given a $0.0207 dividend. The ex-dividend date was Monday, March 10th. CEMEX's payout ratio is 8.33%.
About CEMEX
(
Free Report)
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.
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