Letko Brosseau & Associates Inc. Trims Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Letko Brosseau & Associates Inc. reduced its stake in CEMEX, S.A.B. de C.V. (NYSE:CX) by 5.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,572,821 shares of the construction company’s stock after selling 186,325 shares during the period. Letko Brosseau & Associates Inc.’s holdings in CEMEX were worth $22,830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CX. Capital International Investors grew its holdings in CEMEX by 0.5% during the fourth quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock worth $217,024,000 after acquiring an additional 152,587 shares during the period. Vanguard Group Inc. increased its holdings in shares of CEMEX by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 3,757,831 shares of the construction company’s stock valued at $33,858,000 after purchasing an additional 146,327 shares in the last quarter. Axiom Investors LLC DE lifted its stake in shares of CEMEX by 10.2% in the fourth quarter. Axiom Investors LLC DE now owns 6,660,570 shares of the construction company’s stock valued at $51,619,000 after purchasing an additional 614,520 shares during the period. Wellington Management Group LLP boosted its holdings in CEMEX by 76.4% during the fourth quarter. Wellington Management Group LLP now owns 444,262 shares of the construction company’s stock worth $3,443,000 after buying an additional 192,399 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of CEMEX by 25.9% during the 1st quarter. BNP Paribas Financial Markets now owns 1,296,403 shares of the construction company’s stock worth $11,681,000 after acquiring an additional 267,074 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Trading Down 2.7 %

NYSE:CX traded down $0.16 during mid-day trading on Friday, reaching $5.68. The company’s stock had a trading volume of 10,958,703 shares, compared to its average volume of 8,083,594. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65. The stock has a market cap of $8.23 billion, a P/E ratio of 40.61 and a beta of 1.47. The company’s fifty day simple moving average is $6.32 and its two-hundred day simple moving average is $7.29. CEMEX, S.A.B. de C.V. has a twelve month low of $5.63 and a twelve month high of $9.27.

CEMEX (NYSE:CX) last released its earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. The business had revenue of $4.49 billion for the quarter. On average, equities analysts predict that CEMEX, S.A.B. de C.V. will post 0.84 EPS for the current year.

CEMEX Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.021 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio is presently 14.29%.

Analysts Set New Price Targets

CX has been the subject of several research reports. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 18th. The Goldman Sachs Group assumed coverage on CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 price objective on the stock. Barclays upgraded shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $8.00 price target on shares of CEMEX in a report on Wednesday, August 21st. Finally, Royal Bank of Canada started coverage on shares of CEMEX in a research report on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.