Perpetual Ltd Cuts Stock Position in Cemex S.A.B. de C.V. (NYSE:CX)

Perpetual Ltd lessened its stake in Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 0.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,296,899 shares of the construction company's stock after selling 81,748 shares during the quarter. Perpetual Ltd owned approximately 0.64% of Cemex worth $52,156,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Dodge & Cox raised its holdings in shares of Cemex by 7,200.6% during the 4th quarter. Dodge & Cox now owns 49,622,009 shares of the construction company's stock worth $279,868,000 after acquiring an additional 48,942,309 shares in the last quarter. Schroder Investment Management Group increased its position in Cemex by 745.6% in the fourth quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company's stock worth $150,809,000 after purchasing an additional 23,576,914 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in Cemex during the fourth quarter valued at $86,056,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 valued at $229,806,000 after purchasing an additional 9,541,622 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its position in Cemex by 33.7% during the fourth quarter. Brandes Investment Partners LP now owns 24,233,835 shares of the construction company's stock valued at $136,679,000 after purchasing an additional 6,110,857 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

CX has been the topic of several analyst reports. Royal Bank Of Canada boosted their price objective on Cemex from $5.00 to $5.25 and gave the stock an "underperform" rating in a research note on Tuesday, April 29th. Itau BBA Securities downgraded Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. Bradesco Corretora set a $7.50 price objective on shares of Cemex and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Wall Street Zen raised shares of Cemex from a "hold" rating to a "buy" rating in a research report on Saturday, May 3rd. Finally, Morgan Stanley cut Cemex from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $7.58.

Cemex Stock Performance

CX traded down $0.03 during trading on Friday, reaching $6.81. 8,300,801 shares of the company's stock were exchanged, compared to its average volume of 11,908,097. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.85 and a quick ratio of 0.60. Cemex S.A.B. de C.V. has a 1 year low of $4.89 and a 1 year high of $7.34. The company's fifty day simple moving average is $6.60 and its 200-day simple moving average is $6.11. The stock has a market capitalization of $9.86 billion, a P/E ratio of 7.09, a price-to-earnings-growth ratio of 1.30 and a beta of 1.40.

Cemex (NYSE:CX - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. The firm had revenue of $186.46 million for the quarter, compared to analyst estimates of $214.59 million. Cemex had a net margin of 8.84% and a return on equity of 6.47%. As a group, research analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were issued a $0.0224 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.09 annualized dividend and a dividend yield of 1.32%. Cemex's dividend payout ratio (DPR) is presently 8.33%.

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.