Discovery Capital Management LLC CT bought a new stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock valued at $28,000 after buying an additional 3,062 shares in the last quarter. Barclays PLC increased its position in shares of CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company's stock worth $38,000 after acquiring an additional 1,843 shares during the period. Franklin Resources Inc. bought a new stake in shares of CEMEX during the fourth quarter valued at approximately $63,000. Aureus Asset Management LLC purchased a new stake in shares of CEMEX in the third quarter valued at approximately $70,000. Finally, Envestnet Portfolio Solutions Inc. grew its stake in CEMEX by 26.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company's stock worth $73,000 after purchasing an additional 2,720 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CX has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on CEMEX from $5.00 to $6.00 and gave the company an "underperform" rating in a research report on Monday, February 10th. Morgan Stanley downgraded CEMEX from an "overweight" rating to an "equal weight" rating in a report on Wednesday, March 26th. Finally, The Goldman Sachs Group raised their target price on shares of CEMEX from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $7.82.
Check Out Our Latest Report on CEMEX
CEMEX Stock Down 7.3 %
NYSE CX traded down $0.41 on Friday, hitting $5.15. The stock had a trading volume of 47,618,384 shares, compared to its average volume of 9,980,576. CEMEX, S.A.B. de C.V. has a 52-week low of $4.97 and a 52-week high of $9.00. The business's fifty day moving average price is $6.16 and its 200 day moving average price is $5.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 8.18 and a beta of 1.28.
CEMEX (NYSE:CX - Get Free Report) last announced its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. Equities research analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.69 earnings per share for the current year.
CEMEX Announces Dividend
The business also recently disclosed a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were given a $0.0207 dividend. The ex-dividend date of this dividend was Monday, March 10th. CEMEX's payout ratio is currently 12.70%.
CEMEX Company Profile
(
Free Report)
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.
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