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

Several other institutional investors also recently added to or reduced their stakes in CX. Raymond James Financial Inc. bought a new stake in shares of Cemex in the fourth quarter worth $1,427,000. Avantax Advisory Services Inc. boosted its holdings in Cemex by 32.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 14,550 shares of the construction company's stock worth $82,000 after purchasing an additional 3,558 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake 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 buying an additional 2,720 shares during the period. American Century Companies Inc. boosted its stake in Cemex by 2.1% in the 4th quarter. American Century Companies Inc. now owns 3,541,787 shares of the construction company's stock worth $19,976,000 after purchasing an additional 72,724 shares during the period. Finally, Sei Investments Co. raised its stake in Cemex by 30.5% in the fourth quarter. Sei Investments Co. now owns 2,150,485 shares of the construction company's stock valued at $12,129,000 after purchasing an additional 502,429 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Cemex Stock Performance

Shares of NYSE CX traded down $0.11 during trading hours on Wednesday, reaching $8.54. 6,784,819 shares of the stock were exchanged, compared to its average volume of 12,879,435. The stock's fifty day simple moving average is $7.20 and its 200 day simple moving average is $6.42. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 8.38, a P/E/G ratio of 0.90 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86. Cemex S.A.B. de C.V. has a 52 week low of $4.89 and a 52 week high of $8.70.

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 business had revenue of $4.13 billion for the quarter, compared to analysts' expectations of $4.20 billion. Sell-side analysts predict that Cemex S.A.B. de C.V. will post 0.69 EPS 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 issued a dividend of $0.0224 per share. This represents a $0.09 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex's dividend payout ratio is presently 7.84%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Itau BBA Securities lowered shares of Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Barclays lifted their target price on shares of Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday. Royal Bank Of Canada upped their price target on shares of 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 downgraded 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 shares of Cemex and gave the company a "neutral" rating in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Cemex currently has an average rating of "Hold" and a consensus 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.