Vontobel Holding Ltd. Takes $77,000 Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Vontobel Holding Ltd. bought a new position in CEMEX, S.A.B. de C.V. (NYSE:CX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,688 shares of the construction company’s stock, valued at approximately $77,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CX. Ashton Thomas Private Wealth LLC purchased a new position in shares of CEMEX in the second quarter worth about $33,000. KCM Investment Advisors LLC purchased a new position in CEMEX in the 1st quarter worth approximately $91,000. Fisher Asset Management LLC lifted its position 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 valued at $85,000 after purchasing an additional 10,590 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of CEMEX in the first quarter worth approximately $102,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of CEMEX in the first quarter worth $114,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CX. Royal Bank of Canada raised shares of CEMEX from an “underperform” rating to a “sector perform” rating and cut their price target for the stock from $9.00 to $6.50 in a report on Tuesday, October 8th. JPMorgan Chase & Co. lowered their price target on CEMEX from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Barclays upgraded CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective on the stock in a research report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on CEMEX in a report on Wednesday, July 10th. They set a “buy” rating and a $9.00 target price for the company. Finally, StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, CEMEX has an average rating of “Moderate Buy” and an average target price of $8.12.

CEMEX Stock Performance

Shares of CEMEX stock opened at $5.91 on Thursday. The business has a fifty day simple moving average of $6.11 and a two-hundred day simple moving average of $6.76. The firm has a market capitalization of $8.56 billion, a P/E ratio of 42.18 and a beta of 1.47. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53. CEMEX, S.A.B. de C.V. has a 12 month low of $5.50 and a 12 month high of $9.27.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. The company had revenue of $4.49 billion during the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. On average, equities analysts forecast that CEMEX, S.A.B. de C.V. will post 0.79 earnings per share 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. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio is currently 28.57%.

CEMEX 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.