Quantbot Technologies LP Acquires Shares of 395,414 Cemex S.A.B. de C.V. $CX

Quantbot Technologies LP bought a new position in shares of Cemex S.A.B. de C.V. (NYSE:CX) during the third quarter, Holdings Channel.com reports. The firm bought 395,414 shares of the construction company’s stock, valued at approximately $3,555,000.

Several other institutional investors have also recently made changes to their positions in the company. WealthCollab LLC lifted its stake in shares of Cemex by 73.7% in the 2nd 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 during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Cemex by 256.7% in 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 bought a new position in Cemex in the second quarter worth $46,000. Jones Financial Companies Lllp lifted its position in Cemex by 334.7% during 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 during the period. Finally, Atria Investments Inc bought a new stake in shares of Cemex during the 2nd quarter valued at $79,000. Institutional investors own 82.97% of the company’s stock.

Cemex Stock Down 2.1%

Cemex stock opened at $12.49 on Monday. The firm has a market cap of $18.10 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.84 and a beta of 1.60. The stock has a fifty day simple moving average of $12.38 and a two-hundred day simple moving average of $10.69. Cemex S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $13.35. The company has a current ratio of 0.83, a quick ratio of 0.62 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 (EPS) 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 the consensus estimate of $4.01 billion. Equities analysts predict that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.0225 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.09 annualized dividend and a yield of 0.7%. This is an increase from Cemex’s previous quarterly dividend of $0.02. Cemex’s dividend payout ratio (DPR) is currently 13.64%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CX shares. Barclays reaffirmed an “overweight” rating and issued a $15.00 target price on shares of Cemex in a research report on Tuesday, January 27th. Scotiabank upped their price objective on shares of Cemex from $11.10 to $13.50 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. Zacks Research cut Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, HSBC downgraded Cemex from a “buy” rating to a “hold” rating and set a $12.80 price target on the stock. in a research note on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.