MQS Management LLC Purchases Shares of 21,169 Cemex S.A.B. de C.V. $CX

by · The Markets Daily

MQS Management LLC purchased a new stake in Cemex S.A.B. de C.V. (NYSE:CX – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 21,169 shares of the construction company’s stock, valued at approximately $147,000.

A number of other hedge funds also recently bought and sold shares of the stock. Dodge & Cox raised its position in Cemex by 41.7% in the 1st quarter. Dodge & Cox now owns 70,320,800 shares of the construction company’s stock valued at $394,500,000 after purchasing an additional 20,698,791 shares in the last quarter. Orbis Allan Gray Ltd raised its position in Cemex by 115.6% in the 1st quarter. Orbis Allan Gray Ltd now owns 13,831,102 shares of the construction company’s stock valued at $77,592,000 after purchasing an additional 7,416,743 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Cemex by 58.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company’s stock valued at $40,320,000 after purchasing an additional 2,661,030 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Cemex by 5.2% in the 2nd 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 purchasing an additional 332,914 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Cemex in the 1st quarter valued at about $27,123,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

CX has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Bank of America raised Cemex from a “neutral” rating to a “buy” rating and raised their target price for the stock from $10.00 to $10.80 in a research report on Wednesday, October 15th. Barclays raised their target price on Cemex from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. raised Cemex from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $8.10 to $10.50 in a research report on Tuesday, August 26th. Finally, Citigroup lowered Cemex from a “buy” rating to a “neutral” rating and raised their target price for the stock from $9.00 to $10.00 in a research report on Monday, October 13th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cemex has a consensus rating of “Hold” and an average price target of $9.52.

Get Our Latest Stock Analysis on Cemex

Cemex Trading Up 10.0%

NYSE:CX opened at $10.30 on Wednesday. The stock’s 50 day moving average price is $9.23 and its 200 day moving average price is $7.83. The company has a market capitalization of $14.92 billion, a PE ratio of 10.09, a P/E/G ratio of 1.35 and a beta of 1.51. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $10.36.

Cemex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 17th were paid a dividend of $0.0224 per share. This represents a $0.09 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, September 17th. Cemex’s dividend payout ratio (DPR) is currently 8.82%.

About Cemex

(Free Report)

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.

Further Reading

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