CastleKnight Management LP Has $9.12 Million Stock Holdings in Cemex S.A.B. de C.V. $CX

Key Points

• CastleKnight Management LP cut its Cemex stake by 27.1% in the fourth quarter, selling 295,800 shares and ending with 793,900 shares valued at about $9.12 million.
• Institutional ownership remains very high, with hedge funds and large investors holding 82.97% of Cemex shares. Several firms, including Schroder Investment Management Group and Wellington Management, significantly increased their positions.
• Analysts are mildly positive on Cemex, with an average rating of “Moderate Buy” and an average target price of $12.77. The company also recently raised its quarterly dividend to $0.0312 per share, up from $0.02.

CastleKnight Management LP lessened its holdings in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 27.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 793,900 shares of the construction company's stock after selling 295,800 shares during the quarter. CastleKnight Management LP owned 0.05% of Cemex worth $9,122,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CX. Schroder Investment Management Group boosted its holdings in shares of Cemex by 406.2% in the 4th quarter. Schroder Investment Management Group now owns 26,348,884 shares of the construction company's stock valued at $302,749,000 after purchasing an additional 21,143,554 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Cemex by 451.7% in the 3rd quarter. Wellington Management Group LLP now owns 16,897,356 shares of the construction company's stock valued at $151,907,000 after purchasing an additional 13,834,438 shares in the last quarter. Orbis Allan Gray Ltd boosted its holdings in shares of Cemex by 90.2% in the 2nd quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company's stock valued at $182,263,000 after purchasing an additional 12,469,417 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Cemex by 53.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 10,857,832 shares of the construction company's stock valued at $125,392,000 after purchasing an additional 3,766,639 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cemex by 159.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,907,194 shares of the construction company's stock valued at $56,384,000 after purchasing an additional 3,014,149 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CX shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $12.75 target price on shares of Cemex in a report on Friday, April 24th. Morgan Stanley raised shares of Cemex from an "equal weight" rating to an "overweight" rating and set a $14.00 target price on the stock in a research note on Monday, March 23rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Cemex in a research note on Tuesday, May 26th. JPMorgan Chase & Co. boosted their target price on shares of Cemex from $14.00 to $14.50 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Finally, Scotiabank boosted their target price on shares of Cemex from $13.90 to $14.10 and gave the stock an "outperform" rating in a research note on Friday, April 10th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $12.77.

Cemex Stock Performance

NYSE CX opened at $12.60 on Thursday. The firm's fifty day moving average price is $12.52 and its two-hundred day moving average price is $12.03. The stock has a market cap of $18.25 billion, a PE ratio of 39.36 and a beta of 1.51. Cemex S.A.B. de C.V. has a fifty-two week low of $6.63 and a fifty-two week high of $13.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.63 and a current ratio of 0.87.

Cemex (NYSE:CX - Get Free Report) last posted its earnings results on Tuesday, March 31st. The construction company reported $0.16 earnings per share for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. On average, equities analysts expect that Cemex S.A.B. de C.V. will post 0.91 EPS for the current fiscal year.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th will be issued a dividend of $0.0312 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Cemex's previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, June 17th. Cemex's dividend payout ratio (DPR) is presently 28.13%.

Insider Activity at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of Cemex stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total transaction of $425,600.00. Following the transaction, the insider owned 846,010 shares in the company, valued at approximately $10,287,481.60. The trade was a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.

Cemex Company Profile

Cemex NYSE: CX is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex's product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.

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