AMP Capital Investors Ltd raised its position in shares of Cemex SAB de CV (NYSE:CX) by 20.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 835,865 shares of the construction company’s stock after acquiring an additional 142,286 shares during the period. AMP Capital Investors Ltd owned approximately 0.06% of Cemex SAB de CV worth $7,589,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Neuberger Berman Group LLC acquired a new position in shares of Cemex SAB de CV during the second quarter worth about $100,000. Institute for Wealth Management LLC. acquired a new position in shares of Cemex SAB de CV during the second quarter worth about $115,000. Raymond James Trust N.A. acquired a new position in shares of Cemex SAB de CV during the third quarter worth about $141,000. Dixon Hubard Feinour & Brown Inc. VA acquired a new position in shares of Cemex SAB de CV during the third quarter worth about $156,000. Finally, First Allied Advisory Services Inc. lifted its stake in shares of Cemex SAB de CV by 4.8% during the second quarter. First Allied Advisory Services Inc. now owns 18,812 shares of the construction company’s stock worth $175,000 after purchasing an additional 864 shares in the last quarter. 40.44% of the stock is owned by hedge funds and other institutional investors.
Cemex SAB de CV (CX) opened at $7.56 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 0.88. Cemex SAB de CV has a one year low of $7.09 and a one year high of $10.37. The company has a market capitalization of $10,952.01, a PE ratio of 11.73, a P/E/G ratio of 1.14 and a beta of 1.31.
Cemex SAB de CV (NYSE:CX) last released its quarterly earnings results on Thursday, October 26th. The construction company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). Cemex SAB de CV had a return on equity of 8.71% and a net margin of 8.38%. analysts forecast that Cemex SAB de CV will post 0.52 EPS for the current year.
A number of brokerages have commented on CX. Bank of America cut Cemex SAB de CV from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $10.60 to $10.70 in a research note on Tuesday, August 29th. ValuEngine cut Cemex SAB de CV from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Zacks Investment Research cut Cemex SAB de CV from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. J P Morgan Chase & Co reduced their price objective on Cemex SAB de CV from $11.20 to $10.60 and set an “overweight” rating on the stock in a research note on Monday, October 30th. Finally, Citigroup upgraded Cemex SAB de CV from a “sell” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $10.76.
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Cemex SAB de CV Profile
CEMEX, SAB. de C.V. (CEMEX) is an operating and holding company engaged, directly or indirectly, through its operating subsidiaries, primarily in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials throughout the world, and that provides construction-related services to customers and communities in over 50 countries throughout the world.
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