Grantham Mayo Van Otterloo & Co. LLC Raises Stock Position in Cemex S.A.B. de C.V. $CX

Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 20.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,153,582 shares of the construction company’s stock after acquiring an additional 192,136 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.08% of Cemex worth $10,371,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CX. Ameriflex Group Inc. increased its stake in Cemex by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock valued at $31,000 after purchasing an additional 1,744 shares in the last quarter. WealthCollab LLC boosted its position in Cemex by 73.7% during the second quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after purchasing an additional 1,580 shares in the last quarter. Reyes Financial Architecture Inc. purchased a new stake in Cemex during the third quarter worth $36,000. Northwestern Mutual Wealth Management Co. grew 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 valued at $30,000 after purchasing an additional 3,093 shares during the last quarter. Finally, Militia Capital Partners LP purchased a new position in shares of Cemex in the second quarter valued at $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Price Performance

Cemex stock opened at $10.92 on Tuesday. The stock has a market capitalization of $15.81 billion, a P/E ratio of 16.54, a P/E/G ratio of 0.74 and a beta of 1.60. 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 debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.62. The firm’s 50-day moving average is $12.33 and its two-hundred day moving average is $10.81.

Cemex (NYSE:CX) last posted its quarterly earnings data 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). The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.01 billion. Cemex had a net margin of 5.93% and a return on equity of 2.85%. Equities analysts predict that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Wednesday, March 11th will be issued a $0.0225 dividend. This is a boost from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, March 11th. This represents a $0.09 annualized dividend and a yield of 0.8%. Cemex’s payout ratio is presently 13.64%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays reaffirmed an “overweight” rating and set a $15.00 price target on shares of Cemex in a research note on Tuesday, January 27th. Zacks Research downgraded shares of Cemex from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st. HSBC lowered shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 price target on the stock. in a research report on Friday, February 6th. Finally, Scotiabank upped their target price on Cemex from $11.10 to $13.50 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cemex currently has a consensus rating of “Hold” and an average target price of $11.04.

Cemex Company Profile

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.