Stifel Financial Corp Increases Stake in CEMEX, S.A.B. de C.V. (NYSE:CX)

Stifel Financial Corp raised its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 30.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,406 shares of the construction company’s stock after buying an additional 23,388 shares during the period. Stifel Financial Corp’s holdings in CEMEX were worth $612,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of CEMEX during the second quarter worth about $33,000. Allworth Financial LP lifted its stake in CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after acquiring an additional 1,747 shares during the last quarter. Aureus Asset Management LLC acquired a new position in CEMEX during the 3rd quarter worth approximately $70,000. Vontobel Holding Ltd. purchased a new stake in shares of CEMEX in the 3rd quarter valued at approximately $77,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in shares of CEMEX in the 2nd quarter valued at $81,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

CEMEX Stock Performance

CX opened at $5.66 on Thursday. CEMEX, S.A.B. de C.V. has a 1-year low of $5.00 and a 1-year high of $9.27. The stock has a market cap of $8.20 billion, a P/E ratio of 18.87 and a beta of 1.50. The stock’s 50 day simple moving average is $5.61 and its 200 day simple moving average is $6.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73.

CEMEX Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were issued a $0.0207 dividend. The ex-dividend date was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is presently 20.00%.

Wall Street Analysts Forecast Growth

CX has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $7.00 to $6.00 in a research report on Tuesday, October 29th. Barclays dropped their price objective on CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Royal Bank of Canada downgraded CEMEX from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $6.00 to $5.00 in a report on Wednesday, December 11th. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. Finally, Scotiabank decreased their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CEMEX has an average rating of “Hold” and a consensus target price of $7.65.

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.