Schroder Investment Management Group Grows Stock Position in Cemex S.A.B. de C.V. $CX

Schroder Investment Management Group boosted its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 66.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,205,330 shares of the construction company’s stock after acquiring an additional 2,084,365 shares during the period. Schroder Investment Management Group’s holdings in Cemex were worth $46,796,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. WealthCollab LLC lifted its holdings in shares of Cemex by 73.7% in the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after purchasing an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $30,000 after purchasing an additional 3,093 shares in the last quarter. Ameriflex Group Inc. raised its position in shares of Cemex by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock worth $31,000 after purchasing an additional 1,744 shares during the last quarter. Reyes Financial Architecture Inc. purchased a new stake in Cemex in the 3rd quarter valued at approximately $36,000. Finally, Militia Capital Partners LP acquired a new stake in Cemex during the 2nd quarter valued at $46,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Cemex Stock Down 1.6%

Shares of NYSE CX opened at $10.75 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $15.58 billion, a PE ratio of 16.29, a P/E/G ratio of 0.74 and a beta of 1.60. The firm has a fifty day moving average of $12.31 and a 200-day moving average of $10.82. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $13.35.

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

Cemex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.0225 per share. This is an increase from Cemex’s previous quarterly dividend of $0.02. This represents a $0.09 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, March 11th. Cemex’s payout ratio is presently 13.64%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CX shares. Scotiabank upped their price objective on Cemex from $11.10 to $13.50 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Zacks Research downgraded shares of Cemex from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. HSBC cut shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 target price for the company. in a research note on Friday, February 6th. Finally, Barclays reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of Cemex in a research report on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.04.

Cemex Profile

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.