Oldfield Partners LLP Purchases New Stake in Cemex S.A.B. de C.V. (NYSE:CX)

Key Points

• Oldfield Partners LLP acquired 886,098 shares of Cemex S.A.B. de C.V. for approximately $4.97 million, marking the stock as its 13th largest position in their portfolio.
• Cemex reported an earnings per share (EPS) of $0.23 for its last quarter, exceeding the consensus estimate of $0.18, while its revenue totaled $4.13 billion.
• The company declared a quarterly dividend of $0.0224 per share, resulting in a 1.07% yield, as part of its commitment to return value to shareholders.

Oldfield Partners LLP acquired a new stake in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 886,098 shares of the construction company's stock, valued at approximately $4,971,000. Cemex comprises 1.5% of Oldfield Partners LLP's portfolio, making the stock its 13th biggest holding. Oldfield Partners LLP owned 0.06% of Cemex at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dodge & Cox increased its holdings in shares of Cemex by 7,200.6% in the 4th quarter. Dodge & Cox now owns 49,622,009 shares of the construction company's stock valued at $279,868,000 after acquiring an additional 48,942,309 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Cemex by 30.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,745,819 shares of the construction company's stock worth $229,806,000 after acquiring an additional 9,541,622 shares during the last quarter. Lazard Asset Management LLC lifted its position in Cemex by 3.2% during the fourth quarter. Lazard Asset Management LLC now owns 36,836,513 shares of the construction company's stock worth $207,757,000 after buying an additional 1,127,293 shares in the last quarter. Schroder Investment Management Group increased its stake in Cemex by 745.6% during the fourth quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company's stock worth $150,809,000 after acquiring an additional 23,576,914 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Cemex by 2.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 6,394,205 shares of the construction company's stock valued at $35,871,000 after buying an additional 136,923 shares during the period. Institutional investors own 82.97% of the company's stock.

Cemex Stock Down 0.1%

Shares of NYSE:CX traded down $0.01 during midday trading on Monday, reaching $8.40. 15,441,411 shares of the company were exchanged, compared to its average volume of 11,471,354. The firm has a market cap of $12.17 billion, a PE ratio of 8.24, a P/E/G ratio of 1.04 and a beta of 1.38. Cemex S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $8.46. The stock has a fifty day simple moving average of $7.13 and a two-hundred day simple moving average of $6.38. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX - Get Free Report) last issued its earnings results on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Cemex had a net margin of 9.61% and a return on equity of 6.89%. The company had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. As a group, sell-side 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 business also recently announced 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 was Tuesday, June 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.07%. Cemex's payout ratio is presently 7.84%.

Analysts Set New Price Targets

Several research firms have issued reports on CX. JPMorgan Chase & Co. boosted their target price on Cemex from $6.00 to $6.80 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Itau BBA Securities lowered Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. Royal Bank Of Canada increased their target price on Cemex from $5.00 to $5.25 and gave the stock an "underperform" rating in a research report on Tuesday, April 29th. Wall Street Zen lowered Cemex from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Bradesco Corretora set a $7.50 price target on Cemex and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $7.74.

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.