Sourcerock Group LLC Sells 2,486,130 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Sourcerock Group LLC lessened its position in CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 56.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,933,206 shares of the construction company's stock after selling 2,486,130 shares during the quarter. CEMEX makes up about 0.8% of Sourcerock Group LLC's investment portfolio, making the stock its 27th largest holding. Sourcerock Group LLC owned about 0.13% of CEMEX worth $10,903,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dodge & Cox boosted its holdings in CEMEX by 7,200.6% in the fourth 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 boosted its holdings 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 acquiring an additional 23,576,914 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in CEMEX in the fourth quarter worth $86,056,000. Brandes Investment Partners LP boosted its holdings in CEMEX by 33.7% in the fourth quarter. Brandes Investment Partners LP now owns 24,233,835 shares of the construction company's stock worth $136,679,000 after acquiring an additional 6,110,857 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in CEMEX by 1,505.0% in the fourth quarter. Marshall Wace LLP now owns 2,539,938 shares of the construction company's stock worth $14,325,000 after acquiring an additional 2,381,687 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

CEMEX Price Performance

Shares of CX remained flat at $7.01 during trading hours on Thursday. The company had a trading volume of 13,867,540 shares, compared to its average volume of 11,450,198. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58. CEMEX, S.A.B. de C.V. has a one year low of $4.89 and a one year high of $7.73. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 11.13 and a beta of 1.41. The firm has a 50 day moving average price of $5.94 and a two-hundred day moving average price of $5.89.

CEMEX (NYSE:CX - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 EPS for the quarter. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. The company had revenue of $186.46 million during the quarter, compared to analyst estimates of $214.59 million. As a group, analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

CEMEX Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were issued a dividend of $0.0207 per share. The ex-dividend date was Monday, March 10th. CEMEX's dividend payout ratio is presently 8.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on CEMEX from $6.00 to $6.80 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. 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. The Goldman Sachs Group boosted their price target on CEMEX from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Royal Bank of Canada boosted their price target on CEMEX from $5.00 to $5.25 and gave the stock an "underperform" rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley cut CEMEX from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.58.

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.