Robeco Institutional Asset Management B.V. Increases Stake in CEMEX, S.A.B. de C.V. (NYSE:CX)

Robeco Institutional Asset Management B.V. raised its position in CEMEX, S.A.B. de C.V. (NYSE:CX) by 8.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,889,608 shares of the construction company’s stock after acquiring an additional 807,394 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in CEMEX were worth $60,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CX. Norden Group LLC purchased a new position in CEMEX during the first quarter worth about $654,000. BNP Paribas Financial Markets increased its position in CEMEX by 25.9% during the 1st quarter. BNP Paribas Financial Markets now owns 1,296,403 shares of the construction company’s stock worth $11,681,000 after purchasing an additional 267,074 shares during the period. Capstone Investment Advisors LLC acquired a new stake in shares of CEMEX in the 1st quarter valued at approximately $460,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of CEMEX in the 1st quarter valued at approximately $866,000. Finally, Lesa Sroufe & Co lifted its holdings in shares of CEMEX by 0.4% in the 1st quarter. Lesa Sroufe & Co now owns 400,951 shares of the construction company’s stock valued at $3,613,000 after buying an additional 1,731 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Stock Performance

NYSE CX opened at $5.17 on Tuesday. CEMEX, S.A.B. de C.V. has a 1-year low of $5.16 and a 1-year high of $9.27. The company has a market capitalization of $7.49 billion, a P/E ratio of 17.23 and a beta of 1.50. The business has a 50 day moving average price of $5.96 and a 200 day moving average price of $6.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.65.

CEMEX Cuts Dividend

The business also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were given a dividend of $0.021 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, September 13th. CEMEX’s payout ratio is 13.33%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CX shares. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Barclays reduced their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Scotiabank reduced their price target on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group started coverage on CEMEX in a report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price target for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.82.

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.