Bastion Asset Management Inc. Purchases Shares of 568,125 CEMEX, S.A.B. de C.V. (NYSE:CX)

Bastion Asset Management Inc. acquired a new position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 568,125 shares of the construction company’s stock, valued at approximately $3,285,000. CEMEX makes up about 2.2% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 20th biggest position.

Several other large investors also recently made changes to their positions in CX. Dodge & Cox raised its position in CEMEX by 7,200.6% in the 4th quarter. Dodge & Cox now owns 49,622,009 shares of the construction company’s stock valued at $279,868,000 after buying an additional 48,942,309 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of CEMEX by 745.6% in the fourth quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company’s stock valued at $150,809,000 after purchasing an additional 23,576,914 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in CEMEX by 33.7% during the fourth quarter. Brandes Investment Partners LP now owns 24,233,835 shares of the construction company’s stock worth $136,679,000 after purchasing an additional 6,110,857 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in CEMEX in the 4th quarter worth about $86,056,000. Finally, RWC Asset Advisors US LLC grew its position in CEMEX by 6.4% in the 4th quarter. RWC Asset Advisors US LLC now owns 12,039,601 shares of the construction company’s stock worth $67,903,000 after purchasing an additional 719,735 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Morgan Stanley cut CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. Royal Bank of Canada increased their target price on shares of CEMEX from $5.00 to $5.25 and gave the company an “underperform” rating in a research report on Tuesday, April 29th. The Goldman Sachs Group lifted their price target on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Bradesco Corretora set a $7.50 price objective on CEMEX and gave the company a “neutral” rating in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. raised their target price on CEMEX from $6.00 to $6.80 and gave the stock a “neutral” rating in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, CEMEX has an average rating of “Hold” and a consensus price target of $7.58.

CEMEX Trading Up 0.9 %

Shares of CX opened at $6.16 on Friday. CEMEX, S.A.B. de C.V. has a 1-year low of $4.89 and a 1-year high of $8.11. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 9.77 and a beta of 1.41. The firm’s 50-day moving average price is $5.78 and its 200-day moving average price is $5.78. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 EPS for the quarter. The business had revenue of $186.46 million during the quarter, compared to analyst estimates of $214.59 million. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. Sell-side analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were paid a $0.0207 dividend. The ex-dividend date was Monday, March 10th. CEMEX’s payout ratio is 8.33%.

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.