Narwhal Capital Management Invests $161,000 in Cemex S.A.B. de C.V. $CX

Narwhal Capital Management purchased a new position in shares of Cemex S.A.B. de C.V. (NYSE:CX) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 23,275 shares of the construction company’s stock, valued at approximately $161,000.

Several other large investors also recently modified their holdings of the stock. QRG Capital Management Inc. increased its stake in shares of Cemex by 91.8% during the 2nd quarter. QRG Capital Management Inc. now owns 65,952 shares of the construction company’s stock worth $457,000 after purchasing an additional 31,563 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Cemex by 126.9% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 39,005 shares of the construction company’s stock worth $270,000 after purchasing an additional 21,815 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cemex by 8.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,417 shares of the construction company’s stock worth $204,000 after purchasing an additional 2,248 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Cemex by 5.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 6,727,119 shares of the construction company’s stock worth $46,619,000 after purchasing an additional 332,914 shares during the last quarter. Finally, Kathmere Capital Management LLC purchased a new stake in shares of Cemex during the 2nd quarter worth approximately $109,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CX. Bank of America raised their price target on shares of Cemex from $8.60 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of Cemex from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $8.10 to $10.50 in a research note on Tuesday, August 26th. Barclays lifted their price objective on shares of Cemex from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Cemex in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cemex has a consensus rating of “Hold” and an average price target of $9.02.

Cemex Stock Up 2.1%

Shares of NYSE:CX opened at $9.29 on Thursday. The firm has a fifty day moving average price of $8.97 and a two-hundred day moving average price of $7.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.61. Cemex S.A.B. de C.V. has a one year low of $4.89 and a one year high of $9.61. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 1.47 and a beta of 1.51.

Cemex (NYSE:CX) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Cemex had a net margin of 9.61% and a return on equity of 6.89%. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.20 billion. Analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Cemex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 17th were given a $0.0224 dividend. The ex-dividend date was Wednesday, September 17th. This represents a $0.09 annualized dividend and a yield of 1.0%. Cemex’s payout ratio is 8.82%.

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.