ABS Direct Equity Fund LLC Invests $6.02 Million in CEMEX, S.A.B. de C.V. (NYSE:CX)

ABS Direct Equity Fund LLC purchased a new stake in CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 776,200 shares of the construction company's stock, valued at approximately $6,016,000. CEMEX comprises 5.7% of ABS Direct Equity Fund LLC's holdings, making the stock its 5th biggest holding. ABS Direct Equity Fund LLC owned about 0.05% of CEMEX at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV acquired a new stake in CEMEX during the fourth quarter worth about $26,000. Blue Trust Inc. grew its stake in shares of CEMEX by 65.0% in the fourth quarter. Blue Trust Inc. now owns 5,232 shares of the construction company's stock valued at $41,000 after buying an additional 2,062 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of CEMEX by 40.6% in the third quarter. PNC Financial Services Group Inc. now owns 8,501 shares of the construction company's stock valued at $55,000 after buying an additional 2,454 shares in the last quarter. MQS Management LLC acquired a new stake in shares of CEMEX in the third quarter valued at $70,000. Finally, Euro Pacific Asset Management LLC acquired a new stake in shares of CEMEX in the third quarter valued at $72,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

CEMEX Trading Up 2.3 %

Shares of CX traded up $0.18 during trading hours on Friday, hitting $8.00. The stock had a trading volume of 3,746,232 shares, compared to its average volume of 6,276,776. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.51 and a current ratio of 0.78. The firm has a market cap of $11.59 billion, a P/E ratio of 57.14, a P/E/G ratio of 0.16 and a beta of 1.50. The company's fifty day simple moving average is $8.32 and its 200 day simple moving average is $7.71. CEMEX, S.A.B. de C.V. has a 12-month low of $5.67 and a 12-month high of $9.27.

CEMEX (NYSE:CX - Get Free Report) last issued its earnings results on Monday, April 29th. The construction company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $4.14 billion for the quarter. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. During the same period last year, the business posted $0.15 earnings per share. Equities research analysts forecast that CEMEX, S.A.B. de C.V. will post 0.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CX. The Goldman Sachs Group boosted their target price on CEMEX from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, April 26th. Barclays cut CEMEX from an "overweight" rating to an "equal weight" rating and set a $9.00 price target on the stock. in a report on Friday, February 9th. StockNews.com upgraded CEMEX from a "buy" rating to a "strong-buy" rating in a report on Friday, April 26th. Finally, Bank of America cut CEMEX from a "buy" rating to a "neutral" rating and set a $9.00 price target on the stock. in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.53.

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.