Walleye Capital LLC Purchases New Shares in Cemex S.A.B. de C.V. $CX

Key Points

• Walleye Capital LLC has made a significant investment in Cemex S.A.B. de C.V., acquiring 1,417,838 shares valued at approximately $7.95 million, representing around 0.10% of the company's stock.
• Investment firms such as Dodge & Cox and Wellington Management Group LLP have also increased their stakes in Cemex during the first quarter, reflecting growing institutional interest, with hedge funds owning 82.97% of the company.
• Cemex's current market performance shows a stock price of $8.88 with a 52-week range between $4.89 and $9.04, alongside a recent quarterly earnings report that exceeded analyst estimates.

Walleye Capital LLC purchased a new position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,417,838 shares of the construction company's stock, valued at approximately $7,954,000. Walleye Capital LLC owned 0.10% of Cemex at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Allworth Financial LP raised its position 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 worth $157,000 after purchasing an additional 1,906 shares during the period. Natixis Advisors LLC raised its position 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 worth $2,025,000 after purchasing an additional 2,122 shares during the period. Cetera Investment Advisers raised its position 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 worth $179,000 after purchasing an additional 2,452 shares during the period. Oppenheimer & Co. Inc. raised its position 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 worth $81,000 after purchasing an additional 2,505 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its position 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 worth $437,000 after purchasing an additional 2,570 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Cemex Stock Performance

Shares of NYSE CX traded up $0.12 during midday trading on Thursday, hitting $9.05. 20,100,740 shares of the company's stock were exchanged, compared to its average volume of 12,585,258. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. Cemex S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $9.19. The company's 50 day moving average price is $7.96 and its 200 day moving average price is $6.84. The firm has a market capitalization of $13.11 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40.

Cemex (NYSE:CX - Get Free Report) last issued its 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. 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 the consensus estimate of $4.20 billion. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a dividend of $0.0224 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, June 17th. Cemex's payout ratio is currently 7.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CX shares. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $8.10 to $10.50 in a research report on Tuesday. 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. Finally, Barclays lifted their target price on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $8.53.

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.