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 CEMEX, S.A.B. de C.V. (NYSE:CX) during the 4th quarter, according to the company in its most recent 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 accounts for 2.2% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 20th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc increased its stake in shares of CEMEX by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after purchasing an additional 3,062 shares in the last quarter. Barclays PLC boosted its holdings in CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after buying an additional 1,843 shares during the period. Townsquare Capital LLC purchased a new stake in CEMEX in the 4th quarter worth $57,000. Dark Forest Capital Management LP bought a new stake in CEMEX during the fourth quarter valued at about $59,000. Finally, Franklin Resources Inc. purchased a new position in shares of CEMEX in the fourth quarter valued at about $63,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Stock Up 0.9 %

NYSE:CX opened at $6.16 on Friday. The company’s 50-day simple moving average is $5.78 and its 200-day simple moving average is $5.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. CEMEX, S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $8.11. The stock has a market capitalization of $8.92 billion, a P/E ratio of 9.77 and a beta of 1.41.

CEMEX (NYSE:CX) last announced its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $186.46 million for 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%. On average, equities analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

CEMEX Announces Dividend

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

Wall Street Analysts Forecast Growth

CX has been the subject of several recent analyst reports. StockNews.com upgraded CEMEX from a “hold” rating to a “buy” rating in a research note on Saturday. Bradesco Corretora set a $7.50 target price on shares of CEMEX and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Morgan Stanley cut shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. Royal Bank of Canada raised their price objective on CEMEX from $5.00 to $5.25 and gave the company an “underperform” rating in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. boosted 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.58.

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.