TCP Asset Management LLC Takes Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

TCP Asset Management LLC bought a new position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 42,970 shares of the construction company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of CEMEX during the 3rd quarter worth about $190,346,000. AQR Capital Management LLC increased its position in CEMEX by 28.4% during the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock worth $121,113,000 after purchasing an additional 4,217,562 shares during the last quarter. JPMorgan Chase & Co. increased its position in CEMEX by 123.7% during the third quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock worth $88,093,000 after purchasing an additional 7,986,204 shares during the last quarter. Perpetual Ltd raised its stake in CEMEX by 12.6% during the third quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock worth $61,089,000 after purchasing an additional 1,117,379 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of CEMEX by 8.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock valued at $60,327,000 after purchasing an additional 807,394 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. JPMorgan Chase & Co. downgraded CEMEX from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $6.00 in a report on Tuesday, October 29th. Barclays decreased their target price on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Scotiabank cut their price target on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Finally, Royal Bank of Canada downgraded shares of CEMEX from a “sector perform” rating to an “underperform” rating and decreased their price objective for the stock from $6.00 to $5.00 in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CEMEX presently has a consensus rating of “Hold” and a consensus target price of $7.65.

CEMEX Trading Down 1.7 %

NYSE CX opened at $5.36 on Friday. The stock has a market cap of $7.76 billion, a P/E ratio of 17.85 and a beta of 1.49. The company’s fifty day simple moving average is $5.59 and its 200-day simple moving average is $5.94. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. CEMEX, S.A.B. de C.V. has a 52 week low of $5.00 and a 52 week high of $9.27.

CEMEX Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were given a $0.0207 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s payout ratio is currently 20.00%.

CEMEX 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.