395,414 Shares in Cemex S.A.B. de C.V. $CX Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in Cemex S.A.B. de C.V. (NYSE:CX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 395,414 shares of the construction company’s stock, valued at approximately $3,555,000.

Other hedge funds have also recently added to or reduced their stakes in the company. WealthCollab LLC boosted its holdings in shares of Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after purchasing an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares in the last quarter. Militia Capital Partners LP bought a new stake in Cemex in the 2nd quarter worth approximately $46,000. Jones Financial Companies Lllp boosted its stake in Cemex by 334.7% in the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after buying an additional 7,075 shares in the last quarter. Finally, Atria Investments Inc purchased a new stake in Cemex in the second quarter worth approximately $79,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CX shares. Barclays reissued an “overweight” rating and set a $15.00 price target on shares of Cemex in a research note on Tuesday, January 27th. Scotiabank increased their target price on shares of Cemex from $11.10 to $13.50 and gave the company a “sector perform” rating in a report on Thursday, February 5th. HSBC cut shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 target price on the stock. in a research report on Friday, February 6th. Zacks Research downgraded shares of Cemex from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.04.

Cemex Price Performance

Shares of CX stock opened at $12.49 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.62 and a current ratio of 0.83. Cemex S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $13.35. The firm has a market cap of $18.10 billion, a P/E ratio of 18.93, a P/E/G ratio of 0.84 and a beta of 1.60. The business’s 50 day moving average price is $12.38 and its 200-day moving average price is $10.69.

Cemex (NYSE:CX) last announced its quarterly earnings results on Thursday, February 5th. The construction company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.38). The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Cemex had a return on equity of 2.85% and a net margin of 5.93%. On average, equities research analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Wednesday, March 11th will be given a $0.0225 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. This is a positive change from Cemex’s previous quarterly dividend of $0.02. Cemex’s dividend payout ratio is 13.64%.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.