JPMorgan Chase & Co. Acquires 7,986,204 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

JPMorgan Chase & Co. boosted its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 123.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,441,466 shares of the construction company’s stock after purchasing an additional 7,986,204 shares during the quarter. JPMorgan Chase & Co.’s holdings in CEMEX were worth $88,093,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CX. National Bank of Canada FI raised its holdings in shares of CEMEX by 167.3% during the second quarter. National Bank of Canada FI now owns 908,200 shares of the construction company’s stock valued at $5,703,000 after purchasing an additional 568,400 shares during the period. Caprock Group LLC acquired a new position in CEMEX during the 2nd quarter worth approximately $150,000. Ballentine Partners LLC boosted its holdings in CEMEX by 22.9% in the second quarter. Ballentine Partners LLC now owns 25,959 shares of the construction company’s stock worth $166,000 after acquiring an additional 4,832 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in CEMEX in the second quarter valued at approximately $33,000. Finally, Headlands Technologies LLC increased its holdings in shares of CEMEX by 304.5% during the second quarter. Headlands Technologies LLC now owns 20,199 shares of the construction company’s stock valued at $129,000 after acquiring an additional 15,205 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on CX shares. Royal Bank of Canada downgraded shares of CEMEX from a “sector perform” rating to an “underperform” rating and reduced their price target for the company from $6.00 to $5.00 in a research report on Wednesday, December 11th. Scotiabank reduced their price objective on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. Barclays lowered their target price 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. JPMorgan Chase & Co. downgraded CEMEX from an “overweight” rating to a “neutral” rating and cut their price target for the company from $7.00 to $6.00 in a research note on Tuesday, October 29th. Finally, StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.65.

CEMEX Trading Up 0.9 %

Shares of CX stock opened at $5.69 on Friday. CEMEX, S.A.B. de C.V. has a 52-week low of $5.00 and a 52-week high of $9.27. The company has a 50-day simple moving average of $5.57 and a two-hundred day simple moving average of $6.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 18.97 and a beta of 1.50.

CEMEX Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th were issued a dividend of $0.0207 per share. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s dividend payout ratio (DPR) is currently 20.00%.

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.