Marathon Asset Management Ltd Purchases 426,357 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Marathon Asset Management Ltd increased its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,343,309 shares of the construction company's stock after purchasing an additional 426,357 shares during the quarter. Marathon Asset Management Ltd owned 0.51% of CEMEX worth $44,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in CEMEX by 4.1% in the first quarter. Vanguard Group Inc. now owns 3,757,831 shares of the construction company's stock valued at $33,858,000 after acquiring an additional 146,327 shares during the period. Wellington Management Group LLP lifted its holdings in CEMEX by 76.4% in the fourth quarter. Wellington Management Group LLP now owns 444,262 shares of the construction company's stock valued at $3,443,000 after acquiring an additional 192,399 shares during the period. BNP Paribas Financial Markets lifted its holdings in CEMEX by 25.9% in the first quarter. BNP Paribas Financial Markets now owns 1,296,403 shares of the construction company's stock valued at $11,681,000 after acquiring an additional 267,074 shares during the period. Pacer Advisors Inc. bought a new position in CEMEX in the second quarter valued at about $776,000. Finally, Quadrature Capital Ltd purchased a new stake in CEMEX in the first quarter worth about $1,090,000. Institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CX shares. StockNews.com cut CEMEX from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 11th. Royal Bank of Canada upgraded CEMEX from an "underperform" rating to a "sector perform" rating and reduced their price target for the stock from $9.00 to $6.50 in a research report on Tuesday, October 8th. Barclays upgraded CEMEX from an "equal weight" rating to an "overweight" rating and set a $9.00 price target for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on CEMEX from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group started coverage on CEMEX in a research report on Wednesday, July 10th. They issued a "buy" rating and a $9.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, CEMEX presently has an average rating of "Moderate Buy" and a consensus price target of $8.12.

CEMEX Price Performance

Shares of NYSE:CX traded up $0.03 during trading on Friday, hitting $5.97. 3,896,284 shares of the company's stock were exchanged, compared to its average volume of 8,411,057. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65. CEMEX, S.A.B. de C.V. has a 52-week low of $5.50 and a 52-week high of $9.27. The business's 50-day simple moving average is $6.15 and its 200 day simple moving average is $6.86. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 42.64 and a beta of 1.47.

CEMEX (NYSE:CX - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 EPS for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. The company had revenue of $4.49 billion during the quarter. As a group, equities analysts predict that CEMEX, S.A.B. de C.V. will post 0.79 EPS for the current year.

CEMEX Cuts Dividend

The company also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were paid a dividend of $0.021 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX's payout ratio is presently 28.57%.

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.