International Assets Investment Management LLC Increases Stock Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

International Assets Investment Management LLC raised its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 28.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,782 shares of the construction company’s stock after purchasing an additional 16,127 shares during the quarter. International Assets Investment Management LLC’s holdings in CEMEX were worth $465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CX. Principal Financial Group Inc. grew its position in CEMEX by 0.6% during the second quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock valued at $127,697,000 after buying an additional 112,479 shares during the period. Panagora Asset Management Inc. increased its stake in shares of CEMEX by 6,721.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 867,845 shares of the construction company’s stock worth $5,546,000 after purchasing an additional 855,122 shares in the last quarter. Hosking Partners LLP increased its stake in shares of CEMEX by 21.2% in the 2nd quarter. Hosking Partners LLP now owns 4,558,040 shares of the construction company’s stock worth $29,126,000 after purchasing an additional 798,550 shares in the last quarter. Blue Trust Inc. lifted its position in CEMEX by 166.3% during the second quarter. Blue Trust Inc. now owns 18,156 shares of the construction company’s stock valued at $116,000 after purchasing an additional 11,337 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new position in CEMEX during the first quarter valued at $130,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Trading Up 1.3 %

Shares of CX opened at $6.13 on Friday. The firm has a market cap of $8.88 billion, a P/E ratio of 43.79 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65. CEMEX, S.A.B. de C.V. has a 1 year low of $5.66 and a 1 year high of $9.27. The company has a 50 day simple moving average of $6.37 and a two-hundred day simple moving average of $7.36.

CEMEX (NYSE:CX) last posted its earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. The company had revenue of $4.49 billion during the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. On average, equities analysts expect that CEMEX, S.A.B. de C.V. will post 0.85 earnings per share for the current fiscal year.

CEMEX Announces Dividend

The company also recently declared a Variable dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were paid a dividend of $0.349 per share. The ex-dividend date was Monday, June 17th. CEMEX’s payout ratio is presently 14.29%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays raised CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group began coverage on shares of CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 target price on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $8.00 price target on shares of CEMEX in a research report on Wednesday, August 21st. Royal Bank of Canada assumed coverage on shares of CEMEX in a research note on Tuesday, May 14th. They issued an “underperform” 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 issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.70.

CEMEX Company 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.