Capital Wealth Planning LLC Invests $821,000 in CEMEX, S.A.B. de C.V. (NYSE:CX)

Capital Wealth Planning LLC bought a new position in CEMEX, S.A.B. de C.V. (NYSE:CX) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 128,404 shares of the construction company’s stock, valued at approximately $821,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CX. CWM LLC increased its stake in shares of CEMEX by 75.0% in the 1st quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after acquiring an additional 1,506 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of CEMEX in the 2nd quarter worth about $33,000. Thoroughbred Financial Services LLC bought a new position in shares of CEMEX in the 2nd quarter worth about $81,000. Fisher Asset Management LLC increased its stake in shares of CEMEX by 3,180.2% in the 4th quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after acquiring an additional 10,590 shares in the last quarter. Finally, Prudent Man Advisors LLC bought a new position in shares of CEMEX in the 4th quarter worth about $86,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

CEMEX Stock Performance

Shares of NYSE CX opened at $6.01 on Monday. The firm’s 50-day moving average price is $6.28 and its 200-day moving average price is $7.21. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. The company has a market cap of $8.71 billion, a PE ratio of 42.93 and a beta of 1.48. CEMEX, S.A.B. de C.V. has a 52-week low of $5.50 and a 52-week high of $9.27.

CEMEX (NYSE:CX) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $4.49 billion for the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. As a group, analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.84 EPS for the current year.

CEMEX Cuts Dividend

The business also recently declared a Variable dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.021 per share. This represents a dividend yield of 0.7%. The ex-dividend date is Friday, September 13th. CEMEX’s payout ratio is presently 14.29%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CX shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $8.00 price target on shares of CEMEX in a research note on Wednesday, August 21st. Barclays upgraded shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 price objective for the company. Finally, StockNews.com upgraded shares of CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CEMEX has an average rating of “Moderate Buy” and a consensus price target of $8.70.

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.