Panagora Asset Management Inc. Has $10.70 Million Position in Cemex S.A.B. de C.V. $CX

Key Points

• Panagora Asset Management Inc. increased its position in Cemex S.A.B. de C.V. by 119.9%, owning 1,906,747 shares worth approximately $10.70 million after significant purchases in the first quarter.
• Various analysts have upgraded their ratings for Cemex in recent reports, with Barclays raising its price target to $10.00 and JPMorgan increasing it to $10.50, indicating positive sentiment towards the stock.
• Cemex's latest quarterly earnings report showed an earnings per share (EPS) of $0.23, exceeding analysts' expectations, despite revenues falling slightly short of estimates at $4.13 billion.

Panagora Asset Management Inc. lifted its stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 119.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,906,747 shares of the construction company's stock after buying an additional 1,039,569 shares during the period. Panagora Asset Management Inc. owned about 0.13% of Cemex worth $10,697,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CX. Barclays PLC lifted its stake in shares of Cemex by 56.2% in the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company's stock valued at $55,000 after buying an additional 3,510 shares during the period. First Trust Advisors LP bought a new stake in shares of Cemex in the fourth quarter valued at about $74,000. Stifel Financial Corp lifted its stake in shares of Cemex by 39.2% in the fourth quarter. Stifel Financial Corp now owns 139,718 shares of the construction company's stock valued at $788,000 after buying an additional 39,312 shares during the period. Northern Trust Corp lifted its stake in shares of Cemex by 100.9% in the fourth quarter. Northern Trust Corp now owns 1,707,762 shares of the construction company's stock valued at $9,632,000 after buying an additional 857,802 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Cemex by 15.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 45,795 shares of the construction company's stock valued at $258,000 after buying an additional 6,261 shares during the period. Institutional investors own 82.97% of the company's stock.

Cemex Price Performance

Shares of NYSE:CX traded up $0.19 during trading on Friday, reaching $9.42. The stock had a trading volume of 11,446,755 shares, compared to its average volume of 10,868,224. Cemex S.A.B. de C.V. has a 52 week low of $4.89 and a 52 week high of $9.44. The business's 50-day moving average price is $8.24 and its 200 day moving average price is $6.94. 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 has a market capitalization of $13.64 billion, a PE ratio of 9.23, a P/E/G ratio of 1.49 and a beta of 1.43.

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

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were issued a $0.0224 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.0%. Cemex's dividend payout ratio (DPR) is currently 7.84%.

Wall Street Analysts Forecast Growth

CX has been the subject of a number of analyst reports. Barclays raised their price target on shares of Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Scotiabank restated an "outperform" rating on shares of Cemex in a research note on Tuesday. Itau BBA Securities cut shares of Cemex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 3rd. Wall Street Zen upgraded shares of Cemex from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, JPMorgan Chase & Co. upgraded shares of Cemex from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $8.10 to $10.50 in a research note on Tuesday, August 26th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cemex presently has a consensus rating of "Hold" and an average price target of $9.02.

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.