Loomis Sayles & Co. L P Buys 2,090,688 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Loomis Sayles & Co. L P boosted its stake in CEMEX, S.A.B. de C.V. (NYSE:CX) by 63.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,397,977 shares of the construction company’s stock after acquiring an additional 2,090,688 shares during the period. Loomis Sayles & Co. L P’s holdings in CEMEX were worth $32,927,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CX. Ashton Thomas Private Wealth LLC bought a new stake in CEMEX in the second quarter valued at $33,000. Allworth Financial LP grew its stake in shares of CEMEX by 36.0% in the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after buying an additional 1,747 shares during the period. Vontobel Holding Ltd. bought a new stake in CEMEX in the 3rd quarter valued at about $77,000. Thoroughbred Financial Services LLC bought a new stake in CEMEX in the 2nd quarter valued at about $81,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in CEMEX during the 3rd quarter worth approximately $87,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CX shares. Royal Bank of Canada decreased their price objective on CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Tuesday, October 29th. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. Barclays lowered their price objective on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Scotiabank lowered their target price on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. cut shares of CEMEX from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, CEMEX presently has an average rating of “Moderate Buy” and a consensus target price of $7.82.

CEMEX Stock Performance

Shares of CEMEX stock opened at $5.76 on Tuesday. The business’s fifty day simple moving average is $5.83 and its 200 day simple moving average is $6.33. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. CEMEX, S.A.B. de C.V. has a 12 month low of $5.00 and a 12 month high of $9.27. The firm has a market capitalization of $8.35 billion, a P/E ratio of 19.20 and a beta of 1.49.

CEMEX Cuts Dividend

The firm also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were paid a dividend of $0.021 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX’s payout ratio is 13.33%.

About CEMEX

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.