Loomis Sayles & Co. L P Purchases 2,090,688 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Loomis Sayles & Co. L P grew its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 63.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,397,977 shares of the construction company’s stock after acquiring an additional 2,090,688 shares during the quarter. Loomis Sayles & Co. L P owned 0.37% of CEMEX worth $32,927,000 as of its most recent SEC filing.

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

CEMEX Stock Performance

NYSE:CX opened at $5.76 on Tuesday. The stock’s 50-day moving average is $5.83 and its 200-day moving average is $6.33. CEMEX, S.A.B. de C.V. has a 1-year low of $5.00 and a 1-year high of $9.27. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The stock has a market cap of $8.35 billion, a P/E ratio of 19.20 and a beta of 1.49.

CEMEX Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com downgraded shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Barclays dropped their price objective on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Royal Bank of Canada decreased their target price on CEMEX from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. cut shares of CEMEX from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $6.00 in a report on Tuesday, October 29th. Finally, Scotiabank decreased their price target on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.82.

CEMEX 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 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.