Russell Investments Group Ltd. Purchases 2,289,557 Shares of Cemex S.A.B. de C.V. $CX

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. increased its holdings in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 118.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,229,941 shares of the construction company's stock after purchasing an additional 2,289,557 shares during the period. Russell Investments Group Ltd. owned approximately 0.29% of Cemex worth $23,730,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Cemex by 137.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,252 shares of the construction company's stock valued at $175,000 after acquiring an additional 18,114 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Cemex by 21.0% during the 1st 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 during the last quarter. Franklin Resources Inc. acquired a new position in Cemex in the 4th quarter valued at about $63,000. Bank of Montreal Can increased its holdings in shares of Cemex by 22.2% in the fourth quarter. Bank of Montreal Can now owns 46,534 shares of the construction company's stock valued at $262,000 after purchasing an additional 8,453 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Cemex by 6.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 716,800 shares of the construction company's stock worth $4,043,000 after acquiring an additional 46,330 shares during the period. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

CX has been the topic of several recent analyst reports. Barclays increased their target price on Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. Wall Street Zen lowered Cemex from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. JPMorgan Chase & Co. boosted their target price on Cemex from $6.00 to $6.80 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Finally, Royal Bank Of Canada boosted their target price on Cemex from $5.00 to $5.25 and gave the stock an "underperform" rating in a research report on Tuesday, April 29th. Three 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 MarketBeat.com, Cemex has an average rating of "Hold" and a consensus price target of $7.91.

Cemex Stock Performance

NYSE:CX traded up $0.0050 during mid-day trading on Wednesday, hitting $8.6550. 7,178,855 shares of the company's stock traded hands, compared to its average volume of 12,875,896. The firm has a 50 day moving average of $7.68 and a two-hundred day moving average of $6.72. Cemex S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $8.83. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.92 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 (NYSE:CX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. The company 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%. On average, equities 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 firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were given a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex's payout ratio is 7.84%.

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.