Envestnet Asset Management Inc. Acquires 9,281 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Envestnet Asset Management Inc. boosted its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 433,336 shares of the construction company’s stock after purchasing an additional 9,281 shares during the period. Envestnet Asset Management Inc.’s holdings in CEMEX were worth $2,769,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ballentine Partners LLC lifted its stake in shares of CEMEX by 6.9% in the 1st quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock valued at $190,000 after acquiring an additional 1,358 shares during the last quarter. Aprio Wealth Management LLC lifted its position in CEMEX by 8.9% in the first quarter. Aprio Wealth Management LLC now owns 17,558 shares of the construction company’s stock valued at $158,000 after purchasing an additional 1,431 shares during the last quarter. CWM LLC boosted its stake in shares of CEMEX by 75.0% during the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after purchasing an additional 1,506 shares during the period. Thompson Davis & CO. Inc. grew its holdings in shares of CEMEX by 6.3% in the first quarter. Thompson Davis & CO. Inc. now owns 26,800 shares of the construction company’s stock worth $241,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Lesa Sroufe & Co increased its stake in shares of CEMEX by 0.4% in the first quarter. Lesa Sroufe & Co now owns 400,951 shares of the construction company’s stock worth $3,613,000 after buying an additional 1,731 shares during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CX. The Goldman Sachs Group assumed coverage on shares of CEMEX in a research report on Wednesday, July 10th. They set a “buy” rating and a $9.00 price target for the company. Barclays raised CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a research note on Wednesday, July 31st. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $8.00 price objective on shares of CEMEX in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.70.

CEMEX Trading Down 0.8 %

Shares of CX opened at $5.93 on Friday. CEMEX, S.A.B. de C.V. has a 1-year low of $5.50 and a 1-year high of $9.27. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 42.32 and a beta of 1.48. The firm’s 50-day moving average price is $6.19 and its 200-day moving average price is $7.03. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53.

CEMEX (NYSE:CX) last posted its earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. The firm had revenue of $4.49 billion for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. Sell-side analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.82 EPS for the current year.

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were issued a $0.021 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is 28.57%.

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.