Dynamic Technology Lab Private Ltd Takes Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Dynamic Technology Lab Private Ltd bought a new position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,155 shares of the construction company’s stock, valued at approximately $306,000.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of CEMEX during the 2nd quarter worth approximately $33,000. Allworth Financial LP grew its position in CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after buying an additional 1,747 shares during the period. Vontobel Holding Ltd. acquired a new position in shares of CEMEX in the third quarter worth about $77,000. Thoroughbred Financial Services LLC purchased a new stake in shares of CEMEX during the 2nd quarter worth about $81,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of CEMEX during the 3rd quarter valued at about $87,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CX has been the subject of a number of analyst reports. Barclays reduced their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. Scotiabank reduced their price objective on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered shares of CEMEX from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada reduced their price target on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.82.

CEMEX Price Performance

CX stock opened at $5.57 on Monday. CEMEX, S.A.B. de C.V. has a 52-week low of $5.00 and a 52-week high of $9.27. The business has a fifty day moving average of $5.76 and a two-hundred day moving average of $6.25. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 18.57 and a beta of 1.49. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49.

CEMEX Cuts Dividend

The business also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were paid a dividend of $0.021 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX’s dividend payout ratio (DPR) is presently 13.33%.

About CEMEX

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.