Dynamic Technology Lab Private Ltd Takes $306,000 Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Dynamic Technology Lab Private Ltd bought a new position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 50,155 shares of the construction company’s stock, valued at approximately $306,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of CEMEX during the second quarter worth $33,000. Allworth Financial LP grew its stake in CEMEX by 36.0% during the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,747 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in CEMEX during the 3rd quarter worth about $77,000. Thoroughbred Financial Services LLC acquired a new stake in CEMEX in the 2nd quarter valued at about $81,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of CEMEX in the 3rd quarter valued at about $87,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

CEMEX Trading Up 2.6 %

CX opened at $5.57 on Monday. 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, S.A.B. de C.V. has a 52 week low of $5.00 and a 52 week high of $9.27. The business’s 50 day moving average is $5.76 and its two-hundred day moving average is $6.25. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 18.57 and a beta of 1.49.

CEMEX Cuts Dividend

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

Analysts Set New Price Targets

CX has been the topic of a number of recent research reports. Barclays cut their target price on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Scotiabank dropped their target price 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 decreased their price target for the stock from $7.00 to $6.00 in a report on Tuesday, October 29th. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Finally, 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 note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.