Brandes Investment Partners LP Grows Position in Cemex S.A.B. de C.V. $CX

Brandes Investment Partners LP lifted its position in Cemex S.A.B. de C.V. (NYSE:CX) by 7.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,648,163 shares of the construction company’s stock after purchasing an additional 2,337,817 shares during the quarter. Cemex accounts for 2.0% of Brandes Investment Partners LP’s portfolio, making the stock its 8th largest position. Brandes Investment Partners LP owned about 2.25% of Cemex worth $226,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its stake in shares of Cemex by 142.3% in the 2nd quarter. Bank of Montreal Can now owns 120,982 shares of the construction company’s stock valued at $838,000 after buying an additional 71,047 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Cemex by 9.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 813,753 shares of the construction company’s stock valued at $5,639,000 after acquiring an additional 69,979 shares in the last quarter. Northern Trust Corp increased its stake in Cemex by 4.6% in the first quarter. Northern Trust Corp now owns 1,785,660 shares of the construction company’s stock valued at $10,018,000 after acquiring an additional 77,898 shares during the period. American Century Companies Inc. raised its position in Cemex by 2.9% in the first quarter. American Century Companies Inc. now owns 3,645,959 shares of the construction company’s stock worth $20,454,000 after purchasing an additional 104,172 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new position in Cemex in the second quarter worth about $304,000. 82.97% of the stock is owned by institutional investors.

Cemex Price Performance

Cemex stock opened at $10.60 on Tuesday. The business’s fifty day moving average is $9.76 and its two-hundred day moving average is $8.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market cap of $15.35 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.17 and a beta of 1.56. Cemex S.A.B. de C.V. has a 52 week low of $4.89 and a 52 week high of $10.84.

Cemex (NYSE:CX) last announced its earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. Cemex had a return on equity of 6.85% and a net margin of 8.62%.The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $226.73 million. Equities research analysts forecast that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 17th were paid a $0.0224 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.8%. Cemex’s payout ratio is currently 9.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Scotiabank downgraded Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price objective on the stock. in a report on Tuesday, October 21st. The Goldman Sachs Group boosted their price target on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Barclays upped their price target on Cemex from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada lifted their price objective on Cemex from $7.00 to $8.25 and gave the company an “underperform” rating in a report on Wednesday, October 29th. Finally, Citigroup lowered shares of Cemex from a “buy” rating to a “neutral” rating and upped their target price for the stock from $9.00 to $10.00 in a report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cemex has an average rating of “Hold” and a consensus target price of $10.14.

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.