CEMEX, S.A.B. de C.V. (NYSE:CX) Shares Sold by Brandes Investment Partners LP

Brandes Investment Partners LP trimmed its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,967,695 shares of the construction company’s stock after selling 871,270 shares during the period. Brandes Investment Partners LP owned about 0.90% of CEMEX worth $82,783,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors increased its holdings in shares of CEMEX by 0.5% in the 4th quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock valued at $217,024,000 after acquiring an additional 152,587 shares during the last quarter. Principal Financial Group Inc. increased its stake in CEMEX by 0.6% in the second quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock valued at $127,697,000 after purchasing an additional 112,479 shares during the last quarter. AQR Capital Management LLC increased its stake in CEMEX by 28.4% in the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after purchasing an additional 4,217,562 shares during the last quarter. RWC Asset Advisors US LLC raised its holdings in CEMEX by 32.3% during the second quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock worth $99,398,000 after purchasing an additional 3,796,262 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of CEMEX by 17.6% during the 4th quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock worth $76,262,000 after buying an additional 1,471,407 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

CEMEX Stock Performance

CX opened at $6.22 on Monday. CEMEX, S.A.B. de C.V. has a 1-year low of $5.50 and a 1-year high of $9.27. The stock has a market cap of $9.01 billion, a P/E ratio of 44.43 and a beta of 1.48. The stock’s 50 day simple moving average is $6.23 and its 200 day simple moving average is $7.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65.

CEMEX (NYSE:CX) last posted its earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. The company had revenue of $4.49 billion for the quarter. As a group, equities analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.82 EPS for the current fiscal year.

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. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is currently 28.57%.

Wall Street Analyst Weigh In

CX has been the topic of several research analyst reports. Barclays upgraded shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a research note on Wednesday, July 31st. StockNews.com upgraded shares of CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. The Goldman Sachs Group initiated coverage on shares of CEMEX in a research report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price target for the company. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $8.00 price objective on shares of CEMEX in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.70.

CEMEX Company 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.