Brandes Investment Partners LP Acquires 6,110,857 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Brandes Investment Partners LP lifted its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 33.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,233,835 shares of the construction company’s stock after purchasing an additional 6,110,857 shares during the period. CEMEX accounts for about 1.5% of Brandes Investment Partners LP’s portfolio, making the stock its 21st largest position. Brandes Investment Partners LP owned 1.67% of CEMEX worth $136,679,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crossmark Global Holdings Inc. increased its position in CEMEX by 3.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 137,511 shares of the construction company’s stock valued at $839,000 after acquiring an additional 4,543 shares in the last quarter. GSA Capital Partners LLP bought a new position in CEMEX in the 3rd quarter worth approximately $498,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in CEMEX during the 3rd quarter worth $87,000. MQS Management LLC lifted its holdings in CEMEX by 23.1% during the 3rd quarter. MQS Management LLC now owns 24,763 shares of the construction company’s stock worth $151,000 after buying an additional 4,641 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in CEMEX by 27.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 56,357 shares of the construction company’s stock valued at $344,000 after buying an additional 12,052 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

CEMEX Stock Performance

Shares of NYSE:CX opened at $6.01 on Friday. The stock has a market capitalization of $8.70 billion, a P/E ratio of 9.53 and a beta of 1.45. 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 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $6.07 and a two-hundred day moving average price of $5.89.

CEMEX (NYSE:CX) last announced its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. Equities analysts predict that CEMEX, S.A.B. de C.V. will post 0.69 earnings per share for the current year.

CEMEX Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th will be paid a $0.0207 dividend. The ex-dividend date is Monday, March 10th. CEMEX’s dividend payout ratio (DPR) is presently 12.70%.

Analyst Ratings Changes

CX has been the topic of several research reports. Royal Bank of Canada upped their price target on CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research note on Monday, February 10th. The Goldman Sachs Group boosted their price objective on CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.82.

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.