CEMEX, S.A.B. de C.V. (NYSE:CX) Stake Reduced by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. trimmed its stake in CEMEX, S.A.B. de C.V. (NYSE:CX) by 13.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 56,000 shares of the construction company’s stock after selling 8,700 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in CEMEX were worth $316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc boosted its position in shares of CEMEX by 159.1% during the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after buying an additional 3,062 shares during the period. Barclays PLC boosted its position in CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after acquiring an additional 1,843 shares during the period. Franklin Resources Inc. bought a new position in shares of CEMEX in the fourth quarter worth $63,000. Aureus Asset Management LLC acquired a new position in shares of CEMEX during the third quarter valued at $70,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of CEMEX by 26.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company’s stock valued at $73,000 after purchasing an additional 2,720 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

CEMEX Stock Performance

Shares of CX opened at $5.63 on Tuesday. CEMEX, S.A.B. de C.V. has a 12-month low of $5.00 and a 12-month high of $9.27. The stock has a market capitalization of $8.15 billion, a P/E ratio of 8.93 and a beta of 1.45. The firm’s 50 day moving average is $6.17 and its 200-day moving average is $5.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58.

CEMEX (NYSE:CX) last posted its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. Equities research analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

CEMEX Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were given a $0.0207 dividend. The ex-dividend date of this dividend was Monday, March 10th. CEMEX’s dividend payout ratio (DPR) is 12.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CX shares. Morgan Stanley cut shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. The Goldman Sachs Group raised their price objective on shares of CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Royal Bank of Canada upped their target price on CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, CEMEX presently has an average rating of “Hold” and a consensus price target of $7.82.

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.