Mirae Asset Global Investments Co. Ltd. Grows Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 41.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,080 shares of the construction company’s stock after buying an additional 8,795 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CEMEX were worth $170,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of CEMEX during the 3rd quarter worth $190,346,000. JPMorgan Chase & Co. grew its position in CEMEX by 123.7% during the third quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock valued at $88,093,000 after acquiring an additional 7,986,204 shares during the period. Robeco Institutional Asset Management B.V. grew its position in CEMEX by 8.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock valued at $60,327,000 after acquiring an additional 807,394 shares during the period. Marathon Asset Management Ltd increased its stake in CEMEX by 6.2% during the third quarter. Marathon Asset Management Ltd now owns 7,343,309 shares of the construction company’s stock worth $44,794,000 after acquiring an additional 426,357 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of CEMEX by 63.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 5,397,977 shares of the construction company’s stock worth $32,927,000 after purchasing an additional 2,090,688 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

CX has been the subject of a number of research reports. Scotiabank decreased their target price on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $6.00 in a research note on Tuesday, October 29th. Royal Bank of Canada raised their target price on shares of CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research note on Monday. Finally, Barclays decreased their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.82.

CEMEX Trading Up 0.7 %

CX opened at $6.64 on Friday. The firm’s 50 day moving average is $5.78 and its 200-day moving average is $5.89. CEMEX, S.A.B. de C.V. has a 52-week low of $5.00 and a 52-week high of $9.27. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $9.61 billion, a P/E ratio of 10.53 and a beta of 1.49.

CEMEX (NYSE:CX) last released its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.82%. Analysts expect that CEMEX, S.A.B. de C.V. will post 0.76 EPS for the current fiscal year.

CEMEX Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th were paid a $0.0207 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is 9.52%.

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.