ABS Direct Equity Fund LLC Takes $6.02 Million Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

ABS Direct Equity Fund LLC bought a new position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 776,200 shares of the construction company’s stock, valued at approximately $6,016,000. CEMEX accounts for approximately 5.7% of ABS Direct Equity Fund LLC’s portfolio, making the stock its 5th largest holding. ABS Direct Equity Fund LLC owned approximately 0.05% of CEMEX at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in shares of CEMEX by 0.3% during the third quarter. Principal Financial Group Inc. now owns 19,312,861 shares of the construction company’s stock worth $125,534,000 after purchasing an additional 61,954 shares during the period. Acadian Asset Management LLC raised its holdings in shares of CEMEX by 41.4% during the third quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company’s stock worth $122,996,000 after acquiring an additional 5,542,723 shares in the last quarter. American Century Companies Inc. boosted its position in CEMEX by 3.4% during the third quarter. American Century Companies Inc. now owns 9,744,804 shares of the construction company’s stock valued at $63,341,000 after purchasing an additional 318,541 shares during the last quarter. AQR Capital Management LLC grew its stake in CEMEX by 35.5% in the third quarter. AQR Capital Management LLC now owns 9,684,043 shares of the construction company’s stock valued at $62,946,000 after purchasing an additional 2,535,112 shares in the last quarter. Finally, RWC Asset Advisors US LLC increased its position in CEMEX by 8.4% in the 3rd quarter. RWC Asset Advisors US LLC now owns 8,615,365 shares of the construction company’s stock worth $56,000,000 after purchasing an additional 668,425 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on CX shares. The Goldman Sachs Group raised their price objective on CEMEX from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Barclays cut CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective for the company. in a research report on Friday, February 9th. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a report on Friday, April 26th. Finally, Bank of America cut CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CEMEX currently has a consensus rating of “Moderate Buy” and an average price target of $9.53.

CEMEX Price Performance

Shares of CX stock traded up $0.18 during trading hours on Friday, reaching $8.00. 3,746,232 shares of the company were exchanged, compared to its average volume of 6,276,776. CEMEX, S.A.B. de C.V. has a fifty-two week low of $5.67 and a fifty-two week high of $9.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.78 and a quick ratio of 0.51. The stock’s fifty day moving average is $8.32 and its two-hundred day moving average is $7.70. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 57.14, a P/E/G ratio of 0.16 and a beta of 1.50.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Monday, April 29th. The construction company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $4.14 billion during the quarter. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. During the same quarter in the prior year, the firm earned $0.15 EPS. Sell-side analysts forecast that CEMEX, S.A.B. de C.V. will post 0.88 earnings per share for the current fiscal year.

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.