Raymond James Financial Inc. Makes New $1.43 Million Investment in CEMEX, S.A.B. de C.V. (NYSE:CX)

Raymond James Financial Inc. purchased a new stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 253,025 shares of the construction company’s stock, valued at approximately $1,427,000.

Other large investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in CEMEX by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after purchasing an additional 3,062 shares during the last quarter. Barclays PLC grew its stake in shares of CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after purchasing an additional 1,843 shares during the period. Franklin Resources Inc. purchased a new stake in shares of CEMEX during the 4th quarter valued at about $63,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of CEMEX by 26.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company’s stock worth $73,000 after purchasing an additional 2,720 shares during the period. Finally, Banco Santander S.A. purchased a new stake in CEMEX during the fourth quarter valued at approximately $78,000. 82.97% of the stock is currently owned by institutional investors.

CEMEX Stock Up 0.9 %

Shares of CX opened at $6.16 on Friday. The business’s 50 day moving average is $5.78 and its 200 day moving average is $5.79. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. CEMEX, S.A.B. de C.V. has a 12-month low of $4.89 and a 12-month high of $8.11. The company has a market capitalization of $8.92 billion, a PE ratio of 9.77 and a beta of 1.28.

CEMEX (NYSE:CX) last released its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. The firm had revenue of $186.46 million for the quarter, compared to analysts’ expectations of $214.59 million. Research analysts expect that CEMEX, S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

CEMEX Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were issued a dividend of $0.0207 per share. The ex-dividend date of this dividend was Monday, March 10th. CEMEX’s dividend payout ratio (DPR) is presently 12.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. boosted their price target on CEMEX from $6.00 to $6.80 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group raised their price objective on CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Bradesco Corretora set a $7.50 target price on shares of CEMEX and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Finally, StockNews.com raised shares of CEMEX from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.58.

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.