MQS Management LLC Boosts Stake in CEMEX, S.A.B. de C.V. (NYSE:CX)

MQS Management LLC lifted its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 23.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,763 shares of the construction company’s stock after purchasing an additional 4,641 shares during the period. MQS Management LLC’s holdings in CEMEX were worth $151,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Allworth Financial LP lifted its position in shares of CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,747 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of CEMEX by 3.6% during the third quarter. Legacy Wealth Asset Management LLC now owns 75,949 shares of the construction company’s stock worth $463,000 after purchasing an additional 2,654 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of CEMEX by 2.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 132,972 shares of the construction company’s stock worth $1,198,000 after purchasing an additional 3,200 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of CEMEX by 13.9% during the second quarter. 1832 Asset Management L.P. now owns 26,200 shares of the construction company’s stock worth $167,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of CEMEX by 14.7% during the third quarter. Private Advisor Group LLC now owns 26,831 shares of the construction company’s stock worth $164,000 after purchasing an additional 3,441 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

CEMEX Price Performance

Shares of NYSE:CX opened at $5.48 on Friday. The firm’s 50 day moving average is $5.87 and its two-hundred day moving average is $6.44. CEMEX, S.A.B. de C.V. has a 52 week low of $5.00 and a 52 week high of $9.27. The firm has a market capitalization of $7.93 billion, a P/E ratio of 18.25 and a beta of 1.49. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49.

CEMEX Cuts Dividend

The company also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were paid 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 payout ratio is currently 13.33%.

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.