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

Letko Brosseau & Associates Inc. decreased its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,572,821 shares of the construction company's stock after selling 186,325 shares during the period. Letko Brosseau & Associates Inc. owned approximately 0.25% of CEMEX worth $22,830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CX. Capital International Investors boosted its position in CEMEX by 0.5% during 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 in the last quarter. Vanguard Group Inc. boosted its holdings in shares of CEMEX by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 3,757,831 shares of the construction company's stock valued at $33,858,000 after buying an additional 146,327 shares in the last quarter. Axiom Investors LLC DE grew its position in shares of CEMEX by 10.2% in the 4th quarter. Axiom Investors LLC DE now owns 6,660,570 shares of the construction company's stock worth $51,619,000 after buying an additional 614,520 shares during the period. Wellington Management Group LLP increased its stake in shares of CEMEX by 76.4% in the 4th quarter. Wellington Management Group LLP now owns 444,262 shares of the construction company's stock worth $3,443,000 after acquiring an additional 192,399 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of CEMEX by 25.9% in 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 Price Performance

CX traded down $0.16 during trading on Friday, hitting $5.68. 10,958,703 shares of the company traded hands, compared to its average volume of 8,083,594. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53. The company has a market cap of $8.23 billion, a PE ratio of 40.57 and a beta of 1.47. The stock's 50-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 1 year low of $5.63 and a 1 year high of $9.27.

CEMEX (NYSE:CX - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. The firm had revenue of $4.49 billion during the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. As a group, sell-side analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.84 earnings per share for the current fiscal year.

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th will be issued 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 (DPR) is 14.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Barclays upgraded shares of CEMEX from an "equal weight" rating to an "overweight" rating and set a $9.00 price objective on the stock in a report on Wednesday, July 31st. Royal Bank of Canada began coverage on shares of CEMEX in a research note on Tuesday, May 14th. They issued an "underperform" rating and a $9.00 price target on the stock. The Goldman Sachs Group started coverage on shares of CEMEX in a report on Wednesday, July 10th. They issued a "buy" rating and a $9.00 price objective for the company. StockNews.com raised CEMEX from a "buy" rating to a "strong-buy" rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $8.00 price objective on shares of CEMEX in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CEMEX presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.70.

CEMEX 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.