Healthcare of Ontario Pension Plan Trust Fund Reduces Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 74.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,700 shares of the construction company’s stock after selling 313,400 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in CEMEX were worth $688,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. 1832 Asset Management L.P. lifted its position in CEMEX by 23.1% in the fourth quarter. 1832 Asset Management L.P. now owns 19,730 shares of the construction company’s stock worth $153,000 after buying an additional 3,700 shares during the last quarter. Dodge & Cox boosted its stake in shares of CEMEX by 22.9% during the 4th quarter. Dodge & Cox now owns 610,200 shares of the construction company’s stock worth $4,729,000 after purchasing an additional 113,700 shares during the period. Goldman Sachs Group Inc. grew its holdings in CEMEX by 5.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,828,391 shares of the construction company’s stock valued at $21,920,000 after purchasing an additional 137,306 shares during the last quarter. Wellington Management Group LLP raised its position in CEMEX by 76.4% in the 4th quarter. Wellington Management Group LLP now owns 444,262 shares of the construction company’s stock worth $3,443,000 after purchasing an additional 192,399 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in CEMEX by 3,180.2% in the fourth quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after purchasing an additional 10,590 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CX. StockNews.com upgraded CEMEX from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 18th. The Goldman Sachs Group assumed coverage on CEMEX in a research note on Wednesday, July 10th. They issued a “buy” rating and a $9.00 target price on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $8.00 target price on shares of CEMEX in a research note on Wednesday, August 21st. Royal Bank of Canada raised shares of CEMEX from an “underperform” rating to a “sector perform” rating and reduced their price target for the stock from $9.00 to $6.50 in a research note on Tuesday. Finally, Barclays upgraded shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.28.

CEMEX Stock Performance

CX stock opened at $6.09 on Wednesday. CEMEX, S.A.B. de C.V. has a 1-year low of $5.50 and a 1-year high of $9.27. The business has a 50-day moving average price of $6.17 and a 200 day moving average price of $6.98. The company has a market capitalization of $8.82 billion, a P/E ratio of 43.50 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65.

CEMEX (NYSE:CX) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 EPS for the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. The business had revenue of $4.49 billion during the quarter. As a group, equities research analysts forecast that CEMEX, S.A.B. de C.V. will post 0.82 EPS for the current fiscal year.

CEMEX Cuts Dividend

The business also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were given a $0.021 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX’s payout ratio is 28.57%.

CEMEX Company Profile

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.