Truist Financial Corp bought a new position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX – Get Rating) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,749 shares of the construction company’s stock, valued at approximately $57,000.
Other hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI acquired a new position in CEMEX during the fourth quarter worth about $34,000. Leverty Financial Group LLC purchased a new position in CEMEX in the 4th quarter worth about $67,000. O Shaughnessy Asset Management LLC increased its stake in CEMEX by 46.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,669 shares of the construction company’s stock worth $79,000 after purchasing an additional 3,726 shares in the last quarter. International Assets Investment Management LLC purchased a new position in CEMEX in the 4th quarter worth about $85,000. Finally, Private Advisor Group LLC purchased a new position in CEMEX in the 4th quarter worth about $98,000. 33.42% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. Berenberg Bank cut CEMEX from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. The Goldman Sachs Group lowered CEMEX from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $9.20 to $6.00 in a research report on Monday, April 4th. TheStreet lowered CEMEX from a “b-” rating to a “c+” rating in a research report on Wednesday, April 27th. Credit Suisse Group upgraded CEMEX from a “neutral” rating to an “outperform” rating and set a $6.70 price objective for the company in a research report on Wednesday, April 20th. Finally, StockNews.com upgraded CEMEX from a “hold” rating to a “buy” rating in a research report on Wednesday, April 20th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.62.
CEMEX Stock Up 0.5 %
CEMEX (NYSE:CX – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The construction company reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $3.77 billion during the quarter. CEMEX had a return on equity of 3.38% and a net margin of 1.97%. On average, equities research analysts expect that CEMEX, S.A.B. de C.V. will post 0.6 earnings per share for the current fiscal year.
CEMEX Company Profile
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 worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.
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