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

Ramirez Asset Management Inc. raised its holdings in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 997,387 shares of the construction company’s stock after acquiring an additional 16,647 shares during the period. Cemex comprises approximately 1.0% of Ramirez Asset Management Inc.’s portfolio, making the stock its 24th biggest holding. Ramirez Asset Management Inc.’s holdings in Cemex were worth $6,912,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CX. Narwhal Capital Management purchased a new stake in shares of Cemex during the second quarter valued at approximately $161,000. QRG Capital Management Inc. lifted its position in Cemex by 91.8% during the second quarter. QRG Capital Management Inc. now owns 65,952 shares of the construction company’s stock valued at $457,000 after buying an additional 31,563 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Cemex by 126.9% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 39,005 shares of the construction company’s stock valued at $270,000 after buying an additional 21,815 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 worth $204,000 after buying an additional 2,248 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Cemex by 5.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 6,727,119 shares of the construction company’s stock valued at $46,619,000 after acquiring an additional 332,914 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CX shares. Scotiabank restated an “outperform” rating on shares of Cemex in a report on Tuesday, September 2nd. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Barclays lifted their price objective on Cemex from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. upgraded Cemex from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $8.10 to $10.50 in a report on Tuesday, August 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.02.

Cemex Trading Down 1.6%

Shares of NYSE:CX opened at $9.13 on Friday. The stock has a market capitalization of $13.23 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 1.50 and a beta of 1.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86. The stock’s 50-day simple moving average is $8.98 and its two-hundred day simple moving average is $7.44. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $9.61.

Cemex (NYSE:CX) last announced its 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 return on equity of 6.89% and a net margin of 9.61%.The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Analysts expect that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 17th were paid a dividend of $0.0224 per share. The ex-dividend date was Wednesday, September 17th. This represents a $0.09 dividend on an annualized basis and a yield of 1.0%. Cemex’s dividend payout ratio (DPR) is presently 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.