Letko Brosseau & Associates Inc. Raises Stock Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

Letko Brosseau & Associates Inc. grew its position in CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,780,496 shares of the construction company's stock after purchasing an additional 58,875 shares during the period. Letko Brosseau & Associates Inc. owned about 0.26% of CEMEX worth $21,322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Focus Partners Wealth purchased a new stake in CEMEX during the fourth quarter worth about $66,000. Deprince Race & Zollo Inc. increased its holdings in CEMEX by 16.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 969,419 shares of the construction company's stock worth $5,468,000 after buying an additional 135,081 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in CEMEX during the fourth quarter worth about $846,000. Cetera Investment Advisers boosted its position in CEMEX by 8.4% during the fourth quarter. Cetera Investment Advisers now owns 31,652 shares of the construction company's stock worth $179,000 after purchasing an additional 2,452 shares during the period. Finally, Bastion Asset Management Inc. bought a new position in CEMEX during the fourth quarter worth about $3,285,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of CEMEX from a "hold" rating to a "buy" rating in a research report on Saturday, May 3rd. The Goldman Sachs Group increased their target price on shares of CEMEX from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Royal Bank of Canada increased their target price 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. JPMorgan Chase & Co. increased their target price on shares of CEMEX from $6.00 to $6.80 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Finally, Bradesco Corretora set a $7.50 target price on shares of CEMEX and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. One 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 company presently has an average rating of "Hold" and an average price target of $7.58.

CEMEX Price Performance

CX traded up $0.01 on Friday, reaching $6.86. The company had a trading volume of 9,883,043 shares, compared to its average volume of 11,296,761. The business has a 50 day simple moving average of $5.86 and a 200 day simple moving average of $5.84. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 10.88 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. CEMEX, S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $7.90.

CEMEX (NYSE:CX - Get Free Report) last announced its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. The business had revenue of $186.46 million for the quarter, compared to the consensus estimate of $214.59 million. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. As a group, sell-side analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Dividend Announcement

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

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.