State of New Jersey Common Pension Fund D Invests $4.29 Million in CEMEX, S.A.B. de C.V. (NYSE:CX)

State of New Jersey Common Pension Fund D purchased a new position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 702,612 shares of the construction company’s stock, valued at approximately $4,286,000.

Several other large investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. purchased a new stake in CEMEX in the 1st quarter valued at approximately $114,000. Atomi Financial Group Inc. grew its holdings in CEMEX by 7.1% during the first quarter. Atomi Financial Group Inc. now owns 33,700 shares of the construction company’s stock worth $304,000 after acquiring an additional 2,241 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in CEMEX by 2.5% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 132,972 shares of the construction company’s stock worth $1,198,000 after acquiring an additional 3,200 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in CEMEX by 3.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 744,072 shares of the construction company’s stock valued at $6,746,000 after acquiring an additional 22,790 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of CEMEX by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 3,757,831 shares of the construction company’s stock worth $33,858,000 after purchasing an additional 146,327 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

CEMEX Price Performance

CEMEX stock opened at $5.47 on Wednesday. The stock has a market capitalization of $7.93 billion, a P/E ratio of 18.23 and a beta of 1.49. CEMEX, S.A.B. de C.V. has a 12-month low of $5.00 and a 12-month high of $9.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73. The firm’s 50-day moving average is $5.89 and its two-hundred day moving average is $6.47.

CEMEX Cuts Dividend

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

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.