Marathon Asset Management Ltd Trims Position in Cemex S.A.B. de C.V. (NYSE:CX)

Marathon Asset Management Ltd cut its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,800,995 shares of the construction company's stock after selling 468,626 shares during the quarter. Marathon Asset Management Ltd owned approximately 0.47% of Cemex worth $38,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cetera Investment Advisers raised its position in Cemex by 8.4% during the 4th quarter. Cetera Investment Advisers now owns 31,652 shares of the construction company's stock valued at $179,000 after purchasing an additional 2,452 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Cemex by 21.0% during the first quarter. Oppenheimer & Co. Inc. now owns 14,431 shares of the construction company's stock valued at $81,000 after buying an additional 2,505 shares during the period. Legacy Wealth Asset Management LLC increased its stake in shares of Cemex by 3.4% during the first quarter. Legacy Wealth Asset Management LLC now owns 77,957 shares of the construction company's stock valued at $437,000 after buying an additional 2,570 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Cemex by 26.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company's stock valued at $73,000 after acquiring an additional 2,720 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Cemex by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock worth $28,000 after acquiring an additional 3,062 shares during the period. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on CX shares. Bradesco Corretora set a $7.50 target price on shares of Cemex and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Royal Bank Of Canada lifted their price objective on shares of Cemex from $5.00 to $5.25 and gave the company an "underperform" rating in a report on Tuesday, April 29th. Morgan Stanley lowered Cemex from an "overweight" rating to an "equal weight" rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. increased their target price on Cemex from $6.00 to $6.80 and gave the company a "neutral" rating in a research report on Tuesday, April 29th. Finally, Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cemex presently has an average rating of "Hold" and an average target price of $7.58.

Cemex Stock Up 2.5%

Shares of Cemex stock traded up $0.17 during trading on Tuesday, reaching $7.10. The company's stock had a trading volume of 13,154,671 shares, compared to its average volume of 11,977,049. Cemex S.A.B. de C.V. has a 1-year low of $4.89 and a 1-year high of $7.34. The company has a 50-day simple moving average of $6.66 and a two-hundred day simple moving average of $6.13. The company has a quick ratio of 0.60, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 1.13 and a beta of 1.40.

Cemex (NYSE:CX - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $186.46 million for the quarter, compared to analyst estimates of $214.59 million. Cemex had a net margin of 8.84% and a return on equity of 6.47%. As a group, equities analysts forecast that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were paid 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 1.26%. Cemex's payout ratio is presently 8.33%.

About Cemex

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.