Envestnet Asset Management Inc. Buys 122,710 Shares of Cemex S.A.B. de C.V. $CX

Envestnet Asset Management Inc. boosted its stake in Cemex S.A.B. de C.V. (NYSE:CX) by 16.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 888,542 shares of the construction company’s stock after acquiring an additional 122,710 shares during the period. Envestnet Asset Management Inc.’s holdings in Cemex were worth $7,988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in Cemex by 334.7% during the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after buying an additional 7,075 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Cemex by 58.8% in the first quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company’s stock valued at $40,320,000 after buying an additional 2,661,030 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Cemex by 7.3% during the 2nd quarter. Yousif Capital Management LLC now owns 25,159 shares of the construction company’s stock worth $174,000 after purchasing an additional 1,710 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Cemex by 16.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,819 shares of the construction company’s stock valued at $103,000 after buying an additional 2,068 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Cemex during the second quarter valued at about $147,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research report on Wednesday, January 21st. Zacks Research lowered shares of Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a report on Tuesday, November 4th. HSBC cut Cemex from a “buy” rating to a “hold” rating and set a $12.80 price objective for the company. in a report on Friday, February 6th. Finally, Royal Bank Of Canada upped their price target on shares of Cemex from $7.00 to $8.25 and gave the company an “underperform” rating in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cemex has an average rating of “Hold” and an average target price of $11.04.

Cemex Trading Up 0.7%

NYSE CX opened at $12.66 on Friday. The stock has a market cap of $18.33 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 0.85 and a beta of 1.61. The stock has a 50 day simple moving average of $12.24 and a two-hundred day simple moving average of $10.49. Cemex S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $13.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.62 and a current ratio of 0.83.

Cemex (NYSE:CX) last posted its earnings results on Thursday, February 5th. The construction company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.38). Cemex had a return on equity of 2.85% and a net margin of 5.93%.The company had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.01 billion. On average, analysts forecast that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were paid a dividend of $0.0224 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.7%. Cemex’s dividend payout ratio (DPR) is currently 13.64%.

Cemex 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.