Royal Bank of Canada Has $2.51 Million Stock Position in Cemex S.A.B. de C.V. $CX

Royal Bank of Canada reduced its position in Cemex S.A.B. de C.V. (NYSE:CX) by 54.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 219,218 shares of the construction company’s stock after selling 257,254 shares during the period. Royal Bank of Canada’s holdings in Cemex were worth $2,508,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Orbis Allan Gray Ltd grew its position in Cemex by 3.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 36,132,733 shares of the construction company’s stock worth $415,165,000 after purchasing an additional 1,225,219 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Cemex by 406.2% in the fourth quarter. Schroder Investment Management Group now owns 26,348,884 shares of the construction company’s stock valued at $302,749,000 after purchasing an additional 21,143,554 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cemex by 11.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,191,754 shares of the construction company’s stock valued at $243,494,000 after purchasing an additional 2,182,666 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Cemex by 10.9% in the fourth quarter. Wellington Management Group LLP now owns 18,737,871 shares of the construction company’s stock worth $215,298,000 after buying an additional 1,840,515 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Cemex by 4.3% during the third quarter. Dimensional Fund Advisors LP now owns 12,183,183 shares of the construction company’s stock valued at $109,530,000 after buying an additional 499,504 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

CX has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Cemex from $14.50 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Wall Street Zen lowered Cemex from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Barclays lifted their target price on Cemex from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Scotiabank upped their target price on Cemex from $14.10 to $14.50 and gave the company an “outperform” rating in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada increased their price target on shares of Cemex from $12.75 to $13.50 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.07.

Cemex Trading Up 0.0%

Cemex stock opened at $11.06 on Monday. Cemex S.A.B. de C.V. has a 12 month low of $8.44 and a 12 month high of $13.67. The company has a quick ratio of 0.68, a current ratio of 0.92 and a debt-to-equity ratio of 0.44. The stock has a market cap of $16.03 billion, a P/E ratio of 32.55 and a beta of 1.53. The company’s fifty day simple moving average is $12.19 and its 200-day simple moving average is $12.13.

Cemex (NYSE:CX) last announced its quarterly earnings data on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $4.59 billion during the quarter. Cemex had a return on equity of 3.82% and a net margin of 2.83%. As a group, sell-side analysts forecast that Cemex S.A.B. de C.V. will post 0.91 EPS for the current fiscal year.

Cemex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were given a $0.0312 dividend. This represents a $0.12 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, June 17th. This is an increase from Cemex’s previous quarterly dividend of $0.02. Cemex’s payout ratio is currently 35.29%.

Cemex Company 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.