Cemex S.A.B. de C.V. $CX Shares Bought by Orbis Allan Gray Ltd

Key Points

• Orbis Allan Gray Ltd increased its stake in Cemex S.A.B. de C.V. by 115.6%, acquiring an additional 7,416,743 shares and totaling 13,831,102 shares, valued at approximately $77.6 million.
• A significant majority, 82.97%, of Cemex's stock is owned by institutional investors, reflecting strong institutional interest in the construction firm.
• Recent analysts’ ratings for Cemex show mixed sentiments, with some upgrades and downgrades, resulting in an average rating of "Hold" and a consensus price target of $8.53.

Orbis Allan Gray Ltd boosted its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 115.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,831,102 shares of the construction company's stock after purchasing an additional 7,416,743 shares during the quarter. Orbis Allan Gray Ltd owned about 0.95% of Cemex worth $77,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CX. Raymond James Financial Inc. bought a new stake in Cemex during the fourth quarter valued at about $1,427,000. Barclays PLC boosted its position in Cemex by 56.2% during 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 in the last quarter. First Trust Advisors LP bought a new stake in Cemex during the fourth quarter valued at about $74,000. Stifel Financial Corp boosted its position in Cemex by 39.2% during the fourth quarter. Stifel Financial Corp now owns 139,718 shares of the construction company's stock valued at $788,000 after purchasing an additional 39,312 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Cemex by 100.9% during the fourth quarter. Northern Trust Corp now owns 1,707,762 shares of the construction company's stock valued at $9,632,000 after purchasing an additional 857,802 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Cemex Stock Performance

Cemex stock traded up $0.02 during midday trading on Thursday, hitting $9.18. 4,231,863 shares of the company were exchanged, compared to its average volume of 12,846,362. The firm has a market capitalization of $13.30 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.43. Cemex S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $9.25. The business has a fifty day simple moving average of $8.14 and a two-hundred day simple moving average of $6.90. 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 (NYSE:CX - Get Free Report) last posted its earnings results on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.20 billion. Cemex had a return on equity of 6.89% and a net margin of 9.61%. On average, sell-side analysts forecast that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors 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 1.0%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex's dividend payout ratio (DPR) is 7.84%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CX. Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. JPMorgan Chase & Co. upgraded Cemex from a "neutral" rating to an "overweight" rating and increased their price target for the company from $8.10 to $10.50 in a research note on Tuesday, August 26th. Scotiabank reiterated an "outperform" rating on shares of Cemex in a research note on Tuesday. Finally, Barclays increased their price target on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $9.02.

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.