Hosking Partners LLP Reduces Stock Position in Cemex S.A.B. de C.V. $CX

Hosking Partners LLP lowered its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,854,808 shares of the construction company’s stock after selling 115,599 shares during the period. Cemex accounts for 1.6% of Hosking Partners LLP’s investment portfolio, making the stock its 19th largest position. Hosking Partners LLP owned 0.34% of Cemex worth $43,645,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox grew its holdings in shares of Cemex by 35.1% during the 2nd quarter. Dodge & Cox now owns 95,023,835 shares of the construction company’s stock worth $658,515,000 after purchasing an additional 24,703,035 shares during the period. Brandes Investment Partners LP increased its holdings in Cemex by 7.7% in the 2nd quarter. Brandes Investment Partners LP now owns 32,648,163 shares of the construction company’s stock valued at $226,252,000 after purchasing an additional 2,337,817 shares during the last quarter. Orbis Allan Gray Ltd raised its position in Cemex by 90.2% in the second quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock valued at $182,263,000 after purchasing an additional 12,469,417 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Cemex by 54.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 10,366,666 shares of the construction company’s stock worth $93,196,000 after buying an additional 3,639,547 shares during the period. Finally, Perpetual Ltd grew its stake in shares of Cemex by 0.7% in the third quarter. Perpetual Ltd now owns 9,201,553 shares of the construction company’s stock valued at $82,722,000 after buying an additional 61,633 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Cemex Stock Performance

CX opened at $11.56 on Thursday. The stock has a 50-day moving average of $10.91 and a 200-day moving average of $9.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.91. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $12.03. The company has a market cap of $16.74 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.50 and a beta of 1.59.

Cemex (NYSE:CX) last issued its earnings results on Tuesday, October 28th. The construction company reported $0.16 EPS 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 business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $226.73 million. As a group, 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were paid a dividend of $0.0224 per share. The ex-dividend date was Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.8%. Cemex’s dividend payout ratio is currently 9.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CX. The Goldman Sachs Group boosted their price objective on Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Scotiabank downgraded Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price target for the company. in a report on Tuesday, October 21st. Barclays increased their price objective on Cemex from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Bank of America upgraded shares of Cemex from a “neutral” rating to a “buy” rating and upped their target price for the company from $10.00 to $10.80 in a report on Wednesday, October 15th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.14.

Cemex Company Profile

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.