Mitsubishi UFJ Trust & Banking Corp Grows Stake in Cemex S.A.B. de C.V. $CX

Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 84.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,439 shares of the construction company’s stock after purchasing an additional 89,465 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cemex were worth $1,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CX. Envestnet Portfolio Solutions Inc. bought a new position in shares of Cemex during the 3rd quarter valued at approximately $107,000. Sequoia Financial Advisors LLC boosted its stake in Cemex by 7.2% during the third quarter. Sequoia Financial Advisors LLC now owns 15,889 shares of the construction company’s stock worth $143,000 after buying an additional 1,070 shares during the period. Ritholtz Wealth Management increased its position in Cemex by 8.7% during the third quarter. Ritholtz Wealth Management now owns 253,294 shares of the construction company’s stock valued at $2,277,000 after acquiring an additional 20,234 shares during the last quarter. MGO One Seven LLC bought a new position in Cemex during the third quarter valued at $134,000. Finally, Lesa Sroufe & Co raised its stake in shares of Cemex by 0.7% in the third quarter. Lesa Sroufe & Co now owns 374,626 shares of the construction company’s stock valued at $3,368,000 after acquiring an additional 2,776 shares during the period. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CX shares. Royal Bank Of Canada lifted their price target on shares of Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a research note on Wednesday, October 29th. Citigroup downgraded shares of Cemex from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $9.00 to $10.00 in a research note on Monday, October 13th. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Scotiabank lowered Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price target for the company. in a research note on Tuesday, October 21st. Finally, The Goldman Sachs Group boosted their price objective on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cemex presently has an average rating of “Hold” and a consensus price target of $10.52.

Cemex Price Performance

CX opened at $12.47 on Friday. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.87 and a beta of 1.59. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37. Cemex S.A.B. de C.V. has a 12-month low of $4.89 and a 12-month high of $13.35. The business’s fifty day simple moving average is $11.74 and its 200-day simple moving average is $10.05.

Cemex (NYSE:CX) last released its quarterly earnings data on Tuesday, October 28th. The construction company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.15. Cemex had a net margin of 8.62% and a return on equity of 6.85%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $226.73 million. On average, equities research analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were given a $0.0224 dividend. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, December 15th. Cemex’s dividend payout ratio is presently 9.68%.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.