CastleKnight Management LP Has $6.43 Million Stake in CEMEX, S.A.B. de C.V. (NYSE:CX)

CastleKnight Management LP decreased its stake in CEMEX, S.A.B. de C.V. (NYSE:CX) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,140,300 shares of the construction company’s stock after selling 48,500 shares during the period. CastleKnight Management LP’s holdings in CEMEX were worth $6,431,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Cetera Investment Advisers grew its holdings in shares of CEMEX by 8.4% during the fourth quarter. Cetera Investment Advisers now owns 31,652 shares of the construction company’s stock valued at $179,000 after buying an additional 2,452 shares during the last quarter. Bastion Asset Management Inc. purchased a new position in CEMEX during the fourth quarter worth approximately $3,285,000. BNP Paribas Financial Markets grew its holdings in CEMEX by 3.5% during the 4th quarter. BNP Paribas Financial Markets now owns 4,218,579 shares of the construction company’s stock worth $23,793,000 after acquiring an additional 141,003 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in CEMEX by 15.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 45,795 shares of the construction company’s stock valued at $258,000 after buying an additional 6,261 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of CEMEX by 100.9% during the 4th quarter. Northern Trust Corp now owns 1,707,762 shares of the construction company’s stock valued at $9,632,000 after acquiring an additional 857,802 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CX has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on CEMEX from $6.00 to $6.80 and gave the company a “neutral” rating in a research report on Tuesday, April 29th. Morgan Stanley lowered shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 26th. Bradesco Corretora set a $7.50 price target on CEMEX and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada boosted their price objective on CEMEX from $5.00 to $5.25 and gave the company an “underperform” rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.58.

CEMEX Stock Down 0.7 %

Shares of NYSE CX opened at $6.11 on Tuesday. The firm has a market cap of $8.85 billion, a PE ratio of 9.69 and a beta of 1.41. The company’s fifty day simple moving average is $5.77 and its 200 day simple moving average is $5.78. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. CEMEX, S.A.B. de C.V. has a 12-month low of $4.89 and a 12-month high of $8.11.

CEMEX (NYSE:CX) last issued its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. The firm had revenue of $186.46 million during the quarter, compared to the consensus estimate of $214.59 million. As a group, sell-side analysts forecast that CEMEX, S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

CEMEX Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were issued a dividend of $0.0207 per share. The ex-dividend date was Monday, March 10th. CEMEX’s dividend payout ratio is presently 8.33%.

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.