Ramirez Asset Management Inc. Acquires 16,647 Shares of Cemex S.A.B. de C.V. $CX

Ramirez Asset Management Inc. raised its position in Cemex S.A.B. de C.V. (NYSE:CX) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 997,387 shares of the construction company’s stock after purchasing an additional 16,647 shares during the quarter. Cemex accounts for about 1.0% of Ramirez Asset Management Inc.’s holdings, making the stock its 24th biggest holding. Ramirez Asset Management Inc. owned about 0.07% of Cemex worth $6,912,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CX. Allworth Financial LP grew its position in Cemex by 7.4% in the first quarter. Allworth Financial LP now owns 27,651 shares of the construction company’s stock worth $157,000 after acquiring an additional 1,906 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Cemex by 63.7% in the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after purchasing an additional 2,027 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Cemex by 0.6% during the 1st quarter. Natixis Advisors LLC now owns 360,898 shares of the construction company’s stock worth $2,025,000 after purchasing an additional 2,122 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cemex by 8.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,417 shares of the construction company’s stock valued at $204,000 after acquiring an additional 2,248 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Cemex by 21.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company’s stock worth $81,000 after purchasing an additional 2,505 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

CX has been the topic of a number of recent research reports. Scotiabank restated an “outperform” rating on shares of Cemex in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. upgraded shares of Cemex from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $8.10 to $10.50 in a research note on Tuesday, August 26th. Bank of America increased their price objective on shares of Cemex from $8.60 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Barclays increased their target price on shares of Cemex from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.02.

Cemex Stock Down 1.6%

CX stock opened at $9.13 on Friday. The firm has a 50-day moving average price of $8.98 and a 200-day moving average price of $7.44. The stock has a market capitalization of $13.23 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.51. Cemex S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $9.61. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Cemex had a net margin of 9.61% and a return on equity of 6.89%. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.20 billion. As a group, equities research analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 17th were issued a $0.0224 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, September 17th. Cemex’s payout ratio is 8.82%.

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.