ABS Direct Equity Fund LLC Takes $6.02 Million Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

ABS Direct Equity Fund LLC purchased a new stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) during the fourth quarter, Holdings Channel.com reports. The fund purchased 776,200 shares of the construction company’s stock, valued at approximately $6,016,000. CEMEX accounts for approximately 5.7% of ABS Direct Equity Fund LLC’s portfolio, making the stock its 5th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CX. SouthState Corp grew its stake in CEMEX by 3,387.4% in the 4th quarter. SouthState Corp now owns 12,206 shares of the construction company’s stock valued at $95,000 after purchasing an additional 11,856 shares during the period. Fisher Asset Management LLC increased its holdings in CEMEX by 3,180.2% during the fourth quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after buying an additional 10,590 shares during the last quarter. Robertson Stephens Wealth Management LLC bought a new stake in CEMEX in the fourth quarter worth about $11,261,000. Thompson Davis & CO. Inc. boosted its stake in CEMEX by 14.5% in the fourth quarter. Thompson Davis & CO. Inc. now owns 25,200 shares of the construction company’s stock valued at $195,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Headlands Technologies LLC increased its stake in shares of CEMEX by 1,301.3% during the 4th quarter. Headlands Technologies LLC now owns 11,631 shares of the construction company’s stock worth $90,000 after purchasing an additional 10,801 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CX. Bank of America lowered CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a report on Wednesday, April 24th. The Goldman Sachs Group lifted their price objective on CEMEX from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective on the stock. in a report on Friday, February 9th. Finally, StockNews.com raised shares of CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CEMEX currently has an average rating of “Moderate Buy” and a consensus price target of $9.53.

CEMEX Price Performance

Shares of CX stock traded up $0.18 during trading hours on Friday, reaching $8.00. The stock had a trading volume of 3,746,232 shares, compared to its average volume of 6,276,776. The stock’s fifty day simple moving average is $8.32 and its 200 day simple moving average is $7.70. The firm has a market capitalization of $11.59 billion, a PE ratio of 57.14, a PEG ratio of 0.16 and a beta of 1.50. CEMEX, S.A.B. de C.V. has a 12 month low of $5.67 and a 12 month high of $9.27. The company has a current ratio of 0.78, a quick ratio of 0.51 and a debt-to-equity ratio of 0.54.

CEMEX (NYSE:CX) last announced its quarterly earnings results on Monday, April 29th. The construction company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The firm had revenue of $4.14 billion during the quarter. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. During the same period in the previous year, the business earned $0.15 earnings per share. On average, equities research analysts predict that CEMEX, S.A.B. de C.V. will post 0.88 EPS for the current year.

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.