BNP Paribas Financial Markets Purchases 2,549,852 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

BNP Paribas Financial Markets boosted its position in CEMEX, S.A.B. de C.V. (NYSE:CX) by 166.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,077,576 shares of the construction company’s stock after purchasing an additional 2,549,852 shares during the period. BNP Paribas Financial Markets owned about 0.28% of CEMEX worth $24,873,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of CEMEX by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 3,757,831 shares of the construction company’s stock worth $33,858,000 after acquiring an additional 146,327 shares during the last quarter. Cetera Advisors LLC purchased a new stake in CEMEX in the first quarter worth about $130,000. Blue Trust Inc. raised its stake in shares of CEMEX by 166.3% in the second quarter. Blue Trust Inc. now owns 18,156 shares of the construction company’s stock worth $116,000 after buying an additional 11,337 shares during the period. Hosking Partners LLP raised its stake in shares of CEMEX by 21.2% in the second quarter. Hosking Partners LLP now owns 4,558,040 shares of the construction company’s stock worth $29,126,000 after buying an additional 798,550 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in shares of CEMEX by 6,721.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 867,845 shares of the construction company’s stock valued at $5,546,000 after buying an additional 855,122 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CX shares. Scotiabank reduced their target price on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Royal Bank of Canada dropped their target price on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Tuesday, October 29th. Finally, Barclays decreased their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.82.

CEMEX Stock Performance

CX opened at $5.58 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 18.58 and a beta of 1.49. The company has a fifty day moving average of $5.78 and a 200 day moving average of $6.29. CEMEX, S.A.B. de C.V. has a fifty-two week low of $5.00 and a fifty-two week high of $9.27.

CEMEX Cuts Dividend

The company also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were issued a $0.021 dividend. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is 13.33%.

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.