Cemex S.A.B. de C.V. $CX Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Cemex S.A.B. de C.V. by 118% during the first quarter, owning a total of 4,229,941 shares worth approximately $23.7 million after acquiring an additional 2,289,557 shares.
• Several hedge funds modified their positions in Cemex, with institutional investors owning 82.97% of the company's stock as of the latest report.
• Cemex's stock received mixed analyst ratings, with a consensus rating of "Hold" and a target price of $7.91, following recent downgrades from some analysts and price objective increases from others.

Russell Investments Group Ltd. boosted its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 118.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,229,941 shares of the construction company's stock after acquiring an additional 2,289,557 shares during the period. Russell Investments Group Ltd. owned about 0.29% of Cemex worth $23,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC boosted its position in shares of Cemex by 2.7% in the 1st quarter. HighTower Advisors LLC now owns 745,978 shares of the construction company's stock valued at $4,185,000 after purchasing an additional 19,560 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Cemex during the first quarter worth approximately $218,000. National Bank of Canada FI purchased a new stake in shares of Cemex during the first quarter worth approximately $2,188,000. Headlands Technologies LLC acquired a new stake in shares of Cemex during the first quarter worth $234,000. Finally, Vanguard Group Inc. increased its stake 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 during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

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

Cemex Trading Up 1.8%

NYSE:CX traded up $0.1550 on Thursday, hitting $8.8050. 8,734,294 shares of the stock were exchanged, compared to its average volume of 13,790,762. The stock has a fifty day moving average of $7.75 and a 200-day moving average of $6.75. The stock has a market cap of $12.76 billion, a PE ratio of 8.63, a PEG ratio of 0.93 and a beta of 1.40. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. Cemex S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $8.90.

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

Cemex Announces Dividend

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

About Cemex

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.