BNP Paribas Financial Markets Boosts Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

BNP Paribas Financial Markets boosted its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 166.9% during the third quarter, Holdings Channel.com reports. The firm owned 4,077,576 shares of the construction company’s stock after acquiring an additional 2,549,852 shares during the period. BNP Paribas Financial Markets’ holdings in CEMEX were worth $24,873,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of CEMEX in the 2nd quarter worth approximately $33,000. Allworth Financial LP boosted its stake in CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after buying an additional 1,747 shares during the period. Vontobel Holding Ltd. bought a new position in CEMEX during the third quarter valued at $77,000. Thoroughbred Financial Services LLC purchased a new stake in shares of CEMEX in the second quarter valued at $81,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of CEMEX in the 3rd quarter worth about $87,000. Institutional investors own 82.97% of the company’s stock.

CEMEX Trading Up 2.7 %

Shares of NYSE CX opened at $5.58 on Friday. CEMEX, S.A.B. de C.V. has a twelve month low of $5.00 and a twelve month high of $9.27. The firm has a market cap of $8.08 billion, a PE ratio of 18.58 and a beta of 1.49. The business has a fifty day simple moving average of $5.78 and a two-hundred day simple moving average of $6.29. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49.

CEMEX Cuts Dividend

The firm also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were paid a $0.021 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX’s dividend payout ratio (DPR) is presently 13.33%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CX shares. StockNews.com downgraded shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Scotiabank reduced 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. JPMorgan Chase & Co. downgraded CEMEX from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Royal Bank of Canada decreased their target price on CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 29th. Finally, Barclays lowered their target price on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, CEMEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.82.

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.