JPMorgan Chase & Co. Purchases 7,986,204 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

JPMorgan Chase & Co. boosted its position in CEMEX, S.A.B. de C.V. (NYSE:CX) by 123.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,441,466 shares of the construction company’s stock after acquiring an additional 7,986,204 shares during the quarter. JPMorgan Chase & Co. owned 1.00% of CEMEX worth $88,093,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its stake in shares of CEMEX by 46.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 52,237 shares of the construction company’s stock valued at $319,000 after purchasing an additional 16,585 shares during the last quarter. Barclays PLC raised its stake in CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after acquiring an additional 1,843 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of CEMEX in the third quarter worth about $9,037,000. MML Investors Services LLC boosted its stake in shares of CEMEX by 65.8% in the 3rd quarter. MML Investors Services LLC now owns 20,706 shares of the construction company’s stock valued at $126,000 after purchasing an additional 8,221 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in shares of CEMEX by 39.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,087 shares of the construction company’s stock valued at $92,000 after purchasing an additional 4,306 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

CEMEX Trading Up 0.9 %

NYSE CX opened at $5.69 on Friday. CEMEX, S.A.B. de C.V. has a 12 month low of $5.00 and a 12 month high of $9.27. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $8.25 billion, a PE ratio of 18.97 and a beta of 1.50. The business’s 50-day moving average price is $5.57 and its two-hundred day moving average price is $6.00.

CEMEX Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently issued reports on CX. Royal Bank of Canada downgraded shares of CEMEX from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $6.00 to $5.00 in a research note on Wednesday, December 11th. Barclays dropped their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lowered 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. Scotiabank dropped their target price on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research report on Tuesday, October 29th. Finally, StockNews.com lowered CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. One equities 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.65.

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.