ABC Arbitrage SA Invests $13.43 Million in Cemex S.A.B. de C.V. $CX

ABC Arbitrage SA purchased a new position in Cemex S.A.B. de C.V. (NYSE:CX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,173,473 shares of the construction company’s stock, valued at approximately $13,425,000. Cemex makes up about 1.8% of ABC Arbitrage SA’s portfolio, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Cemex by 84.9% during the third quarter. JPMorgan Chase & Co. now owns 4,529,612 shares of the construction company’s stock worth $40,721,000 after buying an additional 2,080,341 shares in the last quarter. TT International Asset Management LTD bought a new stake in shares of Cemex in the 4th quarter worth about $2,781,000. Dorsey Wright & Associates bought a new stake in shares of Cemex in the 3rd quarter worth about $1,402,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Cemex by 18.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 12,328,806 shares of the construction company’s stock valued at $141,658,000 after purchasing an additional 1,962,140 shares in the last quarter. Finally, Aquatic Capital Management LLC raised its stake in shares of Cemex by 82.6% in the 3rd quarter. Aquatic Capital Management LLC now owns 842,525 shares of the construction company’s stock valued at $7,574,000 after purchasing an additional 381,059 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Cemex Stock Performance

Shares of CX stock opened at $12.46 on Tuesday. Cemex S.A.B. de C.V. has a 12-month low of $7.24 and a 12-month high of $13.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63. The firm has a market capitalization of $18.04 billion, a price-to-earnings ratio of 38.92 and a beta of 1.52. The business has a 50 day simple moving average of $12.65 and a 200 day simple moving average of $12.17.

Cemex (NYSE:CX) last announced its earnings results on Tuesday, March 31st. The construction company reported $0.16 earnings per share for the quarter. Cemex had a return on equity of 3.64% and a net margin of 2.74%. On average, equities research analysts anticipate that Cemex S.A.B. de C.V. will post 0.91 EPS for the current year.

Cemex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Wednesday, June 17th were issued a $0.0312 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This is an increase from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 1.0%. Cemex’s dividend payout ratio is currently 37.50%.

Wall Street Analysts Forecast Growth

CX has been the topic of several research reports. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Santander upgraded Cemex to an “outperform” rating in a research note on Thursday, June 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $12.75 price objective on shares of Cemex in a report on Friday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $12.83.

Insiders Place Their Bets

In related news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total value of $425,600.00. Following the completion of the transaction, the insider owned 846,010 shares in the company, valued at $10,287,481.60. This represents a 3.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

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.