Oaktree Capital Management LP Sells 2,986,241 Shares of Cemex S.A.B. de C.V. $CX

Oaktree Capital Management LP cut its position in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 51.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,763,083 shares of the construction company's stock after selling 2,986,241 shares during the period. Oaktree Capital Management LP owned approximately 0.19% of Cemex worth $31,610,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its stake in Cemex by 5.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company's stock worth $193,000 after purchasing an additional 913 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Cemex by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company's stock worth $2,875,000 after buying an additional 1,221 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cemex by 4.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company's stock valued at $329,000 after acquiring an additional 1,288 shares during the period. Ieq Capital LLC boosted its holdings in Cemex by 7.6% during the 4th quarter. Ieq Capital LLC now owns 19,598 shares of the construction company's stock valued at $225,000 after acquiring an additional 1,380 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in Cemex by 3.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company's stock valued at $387,000 after acquiring an additional 1,389 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Cemex Stock Performance

Shares of Cemex stock opened at $11.72 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. The stock's fifty day moving average price is $12.53 and its 200-day moving average price is $12.23. The firm has a market cap of $16.97 billion, a P/E ratio of 34.46 and a beta of 1.52. Cemex S.A.B. de C.V. has a 12 month low of $8.17 and a 12 month high of $13.67.

Cemex (NYSE:CX - Get Free Report) last issued its earnings results on Tuesday, June 30th. The construction company reported $0.24 earnings per share (EPS) for the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. The company had revenue of $4.59 billion for the quarter. On average, equities research analysts expect that Cemex S.A.B. de C.V. will post 0.87 earnings per share for the current fiscal year.

Cemex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were issued a dividend of $0.0312 per share. This is an increase from Cemex's previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, June 17th. Cemex's dividend payout ratio (DPR) is currently 35.29%.

Wall Street Analysts Forecast Growth

CX has been the subject of several research analyst reports. Barclays lifted their target price on Cemex from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Cemex in a research note on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price objective on shares of Cemex from $14.50 to $15.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Santander upgraded shares of Cemex to an "outperform" rating in a research note on Thursday, June 11th. Finally, Wall Street Zen raised shares of Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cemex presently has an average rating of "Moderate Buy" and an average price target of $13.07.

About Cemex

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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