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

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

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in CEMEX by 123.7% in the third quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock valued at $88,093,000 after buying an additional 7,986,204 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of CEMEX by 46.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 52,237 shares of the construction company’s stock worth $319,000 after acquiring an additional 16,585 shares in the last quarter. Barclays PLC increased its holdings in shares of CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after acquiring an additional 1,843 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of CEMEX during the 3rd quarter valued at approximately $9,037,000. Finally, MML Investors Services LLC lifted its stake in CEMEX by 65.8% during the third quarter. MML Investors Services LLC now owns 20,706 shares of the construction company’s stock worth $126,000 after purchasing an additional 8,221 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

CEMEX Price Performance

NYSE CX opened at $5.36 on Friday. The company has a 50-day moving average price of $5.59 and a two-hundred day moving average price of $5.94. CEMEX, S.A.B. de C.V. has a 52 week low of $5.00 and a 52 week high of $9.27. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 17.85 and a beta of 1.49. 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 Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th were issued a $0.0207 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is 20.00%.

CEMEX Company 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.