Cemex S.A.B. de C.V. $CX Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its stake in Cemex S.A.B. de C.V. by 1.2%, acquiring 44,684 shares during the first quarter, bringing its total ownership to approximately 3.9 million shares valued at $21.9 million.
• Various institutional investors have recently adjusted their positions in Cemex, contributing to a total institutional ownership of 82.97% of the company's stock.
• Wall Street analysts show mixed sentiment towards Cemex, with ratings ranging from a "Buy" to a "Sell," while the stock currently has a target price of $8.53.

Vanguard Group Inc. lifted its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,908,186 shares of the construction company's stock after buying an additional 44,684 shares during the quarter. Vanguard Group Inc. owned approximately 0.27% of Cemex worth $21,925,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Cemex during the 1st quarter worth $29,000. Barclays PLC grew its position in shares of Cemex by 56.2% during the 4th quarter. Barclays PLC now owns 9,759 shares of the construction company's stock worth $55,000 after buying an additional 3,510 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Cemex during the 4th quarter worth $59,000. Westfuller Advisors LLC bought a new position in shares of Cemex during the 1st quarter worth $62,000. Finally, Sargent Investment Group LLC bought a new position in shares of Cemex during the 1st quarter worth $62,000. Institutional investors own 82.97% of the company's stock.

Cemex Stock Down 0.1%

Cemex stock traded down $0.01 during midday trading on Wednesday, reaching $9.15. The company's stock had a trading volume of 4,603,299 shares, compared to its average volume of 12,881,787. The stock's 50-day simple moving average is $8.10 and its 200-day simple moving average is $6.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $9.25. The stock has a market capitalization of $13.26 billion, a P/E ratio of 8.97, a PEG ratio of 0.95 and a beta of 1.43.

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, beating analysts' consensus estimates of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The company had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. On average, sell-side analysts expect that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders 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 is currently 7.84%.

Wall Street Analyst Weigh In

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

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.