QRG Capital Management Inc. Purchases 31,563 Shares of Cemex S.A.B. de C.V. $CX

Key Points

• QRG Capital Management Inc. increased its holdings in Cemex S.A.B. de C.V. by 91.8%, acquiring an additional 31,563 shares, bringing its total to 65,952 shares worth $457,000.
• Cemex reported a quarterly earnings per share (EPS) of $0.23, exceeding analyst expectations of $0.18, despite slightly lower revenue of $4.13 billion compared to the anticipated $4.20 billion.
• The company recently announced a quarterly dividend of $0.0224 per share with a 1.0% yield and a dividend payout ratio of 8.82%.

QRG Capital Management Inc. grew its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 91.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,952 shares of the construction company's stock after acquiring an additional 31,563 shares during the period. QRG Capital Management Inc.'s holdings in Cemex were worth $457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP raised its stake in shares of Cemex by 7.4% during the first quarter. Allworth Financial LP now owns 27,651 shares of the construction company's stock valued at $157,000 after acquiring an additional 1,906 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company's stock valued at $36,000 after acquiring an additional 2,027 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Cemex by 0.6% during the first quarter. Natixis Advisors LLC now owns 360,898 shares of the construction company's stock valued at $2,025,000 after acquiring an additional 2,122 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Cemex by 8.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,417 shares of the construction company's stock valued at $204,000 after acquiring an additional 2,248 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Cemex by 21.0% during the first quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company's stock valued at $81,000 after acquiring an additional 2,505 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Cemex Trading Up 0.3%

NYSE:CX opened at $9.15 on Friday. The company's 50 day moving average price is $9.00 and its 200-day moving average price is $7.46. Cemex S.A.B. de C.V. has a 52 week low of $4.89 and a 52 week high of $9.61. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.47 and a beta of 1.51.

Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 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 firm had revenue of $4.13 billion for the quarter, compared to analysts' expectations of $4.20 billion. On average, equities research analysts forecast that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 17th were issued a $0.0224 dividend. The ex-dividend date was Wednesday, September 17th. This represents a $0.09 annualized dividend and a yield of 1.0%. Cemex's dividend payout ratio (DPR) is currently 8.82%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CX. JPMorgan Chase & Co. raised shares of Cemex from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $8.10 to $10.50 in a research note on Tuesday, August 26th. Barclays boosted their price target on shares of Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Bank of America boosted their price target on shares of Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Wall Street Zen cut shares of Cemex from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Scotiabank reiterated an "outperform" rating on shares of Cemex in a research report on Tuesday, September 2nd. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $9.02.

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.

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