Vident Advisory LLC Grows Position in Cemex S.A.B. de C.V. $CX

Key Points

• Vident Advisory LLC increased its stake in Cemex S.A.B. de C.V. by 92.8%, acquiring an additional 57,279 shares, bringing its total to 119,027 shares valued at approximately $668,000.
• Wall Street analysts have varying opinions on Cemex, with four analysts rating it as a Buy and another four as Hold, resulting in a consensus rating of "Hold" and an average price target of $9.02.
• Cemex recently reported a quarterly earnings of $0.23 EPS, surpassing estimates, and announced a quarterly dividend of $0.0224 per share, translating to an annualized yield of 1.0%.

Vident Advisory LLC increased its holdings in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 92.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,027 shares of the construction company's stock after acquiring an additional 57,279 shares during the quarter. Vident Advisory LLC's holdings in Cemex were worth $668,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Allworth Financial LP raised its holdings in Cemex by 7.4% in the first quarter. Allworth Financial LP now owns 27,651 shares of the construction company's stock worth $157,000 after purchasing an additional 1,906 shares in the last quarter. Natixis Advisors LLC raised its holdings in Cemex by 0.6% in the first quarter. Natixis Advisors LLC now owns 360,898 shares of the construction company's stock worth $2,025,000 after purchasing an additional 2,122 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Cemex by 8.4% during the fourth quarter. Cetera Investment Advisers now owns 31,652 shares of the construction company's stock valued at $179,000 after acquiring an additional 2,452 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings 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 in the last quarter. Finally, Legacy Wealth Asset Management LLC increased its holdings in shares of Cemex by 3.4% during the first quarter. Legacy Wealth Asset Management LLC now owns 77,957 shares of the construction company's stock valued at $437,000 after acquiring an additional 2,570 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Cemex Stock Performance

NYSE:CX traded up $0.30 during midday trading on Thursday, hitting $9.48. The company's stock had a trading volume of 9,536,622 shares, compared to its average volume of 11,374,110. Cemex S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $9.55. The firm's 50 day moving average is $8.43 and its 200-day moving average is $7.02. 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 firm has a market cap of $13.73 billion, a P/E ratio of 9.29, a P/E/G ratio of 1.48 and a beta of 1.43.

Cemex (NYSE:CX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%.The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.20 billion. Equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 17th will be given a $0.0224 dividend. This represents a $0.09 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, September 17th. Cemex's dividend payout ratio is currently 8.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Cemex from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Scotiabank restated an "outperform" rating on shares of Cemex in a report on Tuesday, September 2nd. Itau BBA Securities downgraded shares of Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Barclays upped their price objective on shares of Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Bank of America upped their price objective on shares of Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Four research 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's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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.