Hosking Partners LLP Sells 49,477 Shares of Cemex S.A.B. de C.V. (NYSE:CX)

Key Points

• Hosking Partners LLP has reduced its stake in Cemex S.A.B. de C.V. by 1.0%, now holding approximately 5 million shares valued at about $28.5 million.
• Cemex's stock price is currently at $8.63, with a market capitalization of $12.51 billion and a PE ratio of 8.46.
• Recent analyst reports suggest a consensus "Hold" rating for Cemex shares, with an average target price of $7.91.

Hosking Partners LLP lessened its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,081,167 shares of the construction company's stock after selling 49,477 shares during the quarter. Cemex comprises about 1.2% of Hosking Partners LLP's investment portfolio, making the stock its 27th largest position. Hosking Partners LLP owned approximately 0.35% of Cemex worth $28,505,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in Cemex in the first quarter valued at about $29,000. Barclays PLC increased its holdings in Cemex by 56.2% in the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company's stock valued at $55,000 after purchasing an additional 3,510 shares during the last quarter. Townsquare Capital LLC bought a new stake in Cemex in the fourth quarter valued at about $57,000. Dark Forest Capital Management LP bought a new stake in Cemex in the fourth quarter valued at about $59,000. Finally, Raiffeisen Bank International AG bought a new stake in Cemex in the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Cemex Stock Up 1.3%

Shares of CX stock traded up $0.11 on Tuesday, hitting $8.76. 7,768,327 shares of the stock were exchanged, compared to its average volume of 12,967,072. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $12.69 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 0.92 and a beta of 1.40. The business has a 50-day moving average of $7.46 and a 200 day moving average of $6.61. Cemex S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $8.83.

Cemex (NYSE:CX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The construction company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. Cemex had a return on equity of 6.89% and a net margin of 9.61%. The company had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. Equities analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 17th were given a dividend of $0.0224 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.09 annualized dividend and a yield of 1.0%. Cemex's dividend payout ratio is 7.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank Of Canada upped their price objective on Cemex from $5.00 to $5.25 and gave the company an "underperform" rating in a report on Tuesday, April 29th. Bradesco Corretora set a $7.50 price objective on Cemex and gave the company a "neutral" rating in a report on Tuesday, April 15th. Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. JPMorgan Chase & Co. increased their price target on Cemex from $6.00 to $6.80 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. Finally, Barclays increased their price target on Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $7.91.

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.