Lesa Sroufe & Co Takes $2.05 Million Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Lesa Sroufe & Co acquired a new stake in CEMEX, S.A.B. de C.V. (NYSE:CX) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 364,901 shares of the construction company’s stock, valued at approximately $2,047,000. CEMEX accounts for approximately 2.0% of Lesa Sroufe & Co’s portfolio, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc boosted its holdings in CEMEX by 159.1% in the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after acquiring an additional 3,062 shares during the period. Natixis Advisors LLC boosted its holdings in CEMEX by 13.6% in the 4th quarter. Natixis Advisors LLC now owns 358,776 shares of the construction company’s stock worth $2,023,000 after acquiring an additional 43,089 shares during the period. Vanguard Group Inc. boosted its holdings in CEMEX by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 3,863,502 shares of the construction company’s stock worth $21,790,000 after acquiring an additional 53,269 shares during the period. QRG Capital Management Inc. boosted its holdings in CEMEX by 30.5% in the 4th quarter. QRG Capital Management Inc. now owns 30,937 shares of the construction company’s stock worth $174,000 after acquiring an additional 7,232 shares during the period. Finally, Franklin Resources Inc. purchased a new position in CEMEX in the 4th quarter worth approximately $63,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded CEMEX from a “hold” rating to a “buy” rating in a report on Saturday, May 3rd. Morgan Stanley cut CEMEX from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. upped their price target on CEMEX from $6.00 to $6.80 and gave the stock a “neutral” rating in a report on Tuesday, April 29th. Itau BBA Securities cut CEMEX from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 3rd. Finally, Royal Bank of Canada upped their price target on CEMEX from $5.00 to $5.25 and gave the stock an “underperform” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.58.

CEMEX Stock Performance

Shares of CX opened at $6.90 on Tuesday. The business’s 50 day moving average is $6.35 and its two-hundred day moving average is $6.06. CEMEX, S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $7.34. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 10.94 and a beta of 1.40. 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 (NYSE:CX) last announced its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. The company had revenue of $186.46 million for the quarter, compared to analyst estimates of $214.59 million. Analysts forecast that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

CEMEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th will be given a $0.0224 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, June 17th. CEMEX’s payout ratio is 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.