Cemex S.A.B. de C.V. $CX Stake Lowered by Brandes Investment Partners LP

Brandes Investment Partners LP reduced its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 48.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,852,316 shares of the construction company’s stock after selling 12,050,569 shares during the period. Brandes Investment Partners LP’s holdings in Cemex were worth $147,673,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CX. Wellington Management Group LLP grew its holdings in shares of Cemex by 451.7% during the 3rd quarter. Wellington Management Group LLP now owns 16,897,356 shares of the construction company’s stock valued at $151,907,000 after acquiring an additional 13,834,438 shares in the last quarter. Orbis Allan Gray Ltd grew its holdings in shares of Cemex by 90.2% during the 2nd quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock valued at $182,263,000 after acquiring an additional 12,469,417 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Cemex by 58.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company’s stock valued at $40,320,000 after acquiring an additional 2,661,030 shares in the last quarter. Man Group plc boosted its holdings in Cemex by 247.9% in the second quarter. Man Group plc now owns 3,319,643 shares of the construction company’s stock worth $23,005,000 after purchasing an additional 2,365,418 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Cemex by 222.1% in the third quarter. Sei Investments Co. now owns 3,040,764 shares of the construction company’s stock worth $27,336,000 after purchasing an additional 2,096,711 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays reiterated an “overweight” rating on shares of Cemex in a report on Thursday, March 12th. JPMorgan Chase & Co. upped their price objective on shares of Cemex from $14.00 to $14.50 and gave the stock an “overweight” rating in a report on Friday, April 24th. Scotiabank upped their price objective on shares of Cemex from $13.90 to $14.10 and gave the stock an “outperform” rating in a report on Friday, April 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.75 price objective on shares of Cemex in a report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.77.

Cemex Trading Up 0.2%

Shares of NYSE:CX opened at $12.07 on Wednesday. The stock has a market capitalization of $17.48 billion, a PE ratio of 37.70 and a beta of 1.51. The company has a current ratio of 0.87, a quick ratio of 0.63 and a debt-to-equity ratio of 0.35. Cemex S.A.B. de C.V. has a 1 year low of $6.63 and a 1 year high of $13.67. The firm has a fifty day moving average price of $12.36 and a 200 day moving average price of $11.93.

Cemex (NYSE:CX) last released its earnings results on Tuesday, March 31st. The construction company reported $0.16 earnings per share for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. Analysts expect that Cemex S.A.B. de C.V. will post 0.91 EPS for the current fiscal year.

Cemex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be given a dividend of $0.0312 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.12 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Cemex’s previous quarterly dividend of $0.02. Cemex’s dividend payout ratio (DPR) is presently 28.13%.

Insiders Place Their Bets

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total transaction of $425,600.00. Following the completion of the transaction, the insider owned 846,010 shares of the company’s stock, valued at $10,287,481.60. The trade was a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.