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 lifted its stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 115.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Dodge & Cox boosted its holdings in shares of Cemex by 41.7% in the 1st quarter. Dodge & Cox now owns 70,320,800 shares of the construction company's stock worth $394,500,000 after purchasing an additional 20,698,791 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cemex by 30.6% in the 4th 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 purchasing an additional 9,541,622 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Cemex by 3.2% in the 4th quarter. Lazard Asset Management LLC now owns 36,836,513 shares of the construction company's stock worth $207,757,000 after purchasing an additional 1,127,293 shares during the period. Robeco Institutional Asset Management B.V. boosted 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 worth $35,871,000 after purchasing an additional 136,923 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Cemex by 118.0% in the 1st quarter. Russell Investments Group Ltd. now owns 4,229,941 shares of the construction company's stock worth $23,730,000 after purchasing an additional 2,289,557 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Itau BBA Securities cut Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Scotiabank restated an "outperform" rating on shares of Cemex in a report on Tuesday. Bank of America boosted their price objective on Cemex from $8.60 to $10.00 and gave the company a "neutral" rating in a report on Wednesday. Wall Street Zen upgraded Cemex from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Barclays boosted their price objective on Cemex from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $9.02.

Cemex Stock Down 0.1%

Shares of CX traded down $0.01 during trading hours on Wednesday, hitting $9.16. The company had a trading volume of 7,458,974 shares, compared to its average volume of 12,893,892. The company has a market capitalization of $13.27 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.43. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. Cemex S.A.B. de C.V. has a one year low of $4.89 and a one year high of $9.25. The company's fifty day moving average price is $8.10 and its two-hundred day moving average price is $6.89.

Cemex (NYSE:CX - Get Free Report) last released its quarterly 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 during 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%. As a group, equities analysts forecast that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a $0.0224 dividend. This represents a $0.09 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 17th. Cemex's payout ratio is presently 7.84%.

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.