Cemex S.A.B. de C.V. $CX Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 84.9% during the 3rd quarter, Holdings Channel reports. The fund owned 4,529,612 shares of the construction company’s stock after purchasing an additional 2,080,341 shares during the period. JPMorgan Chase & Co.’s holdings in Cemex were worth $40,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CX. WealthCollab LLC lifted its holdings in Cemex by 73.7% during 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. lifted its stake in Cemex by 256.7% during the second 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. Militia Capital Partners LP purchased a new position in shares of Cemex during the second quarter worth $46,000. Jones Financial Companies Lllp grew its stake in shares of Cemex by 334.7% in the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock valued at $52,000 after buying an additional 7,075 shares in the last quarter. Finally, Atria Investments Inc acquired a new position in Cemex during the 2nd quarter worth about $79,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Trading Up 0.2%

Shares of Cemex stock opened at $12.76 on Friday. 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 business’s fifty day moving average is $12.36 and its two-hundred day moving average is $10.64. The firm has a market cap of $18.49 billion, a PE ratio of 19.33, a P/E/G ratio of 0.86 and a beta of 1.61. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.33.

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

Cemex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were issued a dividend of $0.0224 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. Cemex’s payout ratio is 13.64%.

Analysts Set New Price Targets

CX has been the subject of several recent research reports. Zacks Research lowered shares of Cemex from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st. Scotiabank boosted their price objective on Cemex from $11.10 to $13.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Finally, Barclays reissued an “overweight” rating and issued a $15.00 price target 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.04.

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.