Discovery Capital Management LLC CT Buys Shares of 1,704,100 CEMEX, S.A.B. de C.V. (NYSE:CX)

Discovery Capital Management LLC CT bought a new stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,704,100 shares of the construction company's stock, valued at approximately $9,611,000. Discovery Capital Management LLC CT owned about 0.12% of CEMEX as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in CEMEX by 123.7% in the third quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company's stock worth $88,093,000 after buying an additional 7,986,204 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of CEMEX by 46.5% in the third quarter. Sanctuary Advisors LLC now owns 52,237 shares of the construction company's stock worth $319,000 after acquiring an additional 16,585 shares during the period. IFP Advisors Inc grew its stake in shares of CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock worth $28,000 after purchasing an additional 3,062 shares during the period. Natixis Advisors LLC increased its holdings in CEMEX by 13.6% in the fourth quarter. Natixis Advisors LLC now owns 358,776 shares of the construction company's stock valued at $2,023,000 after buying an additional 43,089 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in CEMEX by 30.5% in the 4th quarter. QRG Capital Management Inc. now owns 30,937 shares of the construction company's stock worth $174,000 after purchasing an additional 7,232 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

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CEMEX Stock Performance

CX traded down $0.13 during trading on Thursday, hitting $5.57. The stock had a trading volume of 26,679,556 shares, compared to its average volume of 9,823,527. CEMEX, S.A.B. de C.V. has a twelve month low of $5.00 and a twelve month high of $9.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. The company's 50-day moving average price is $6.17 and its 200 day moving average price is $5.88. The firm has a market capitalization of $8.06 billion, a P/E ratio of 8.83 and a beta of 1.28.

CEMEX (NYSE:CX - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. On average, equities research analysts forecast that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

CEMEX Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were given a dividend of $0.0207 per share. The ex-dividend date of this dividend was Monday, March 10th. CEMEX's dividend payout ratio (DPR) is 12.70%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CX. Royal Bank of Canada boosted their price target on shares of CEMEX from $5.00 to $6.00 and gave the stock an "underperform" rating in a research report on Monday, February 10th. The Goldman Sachs Group increased their target price on shares of CEMEX from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, Morgan Stanley lowered CEMEX from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $7.82.

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.