Carrhae Capital LLP Buys 350,400 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Carrhae Capital LLP lifted its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 18.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,215,050 shares of the construction company’s stock after purchasing an additional 350,400 shares during the quarter. CEMEX accounts for about 1.0% of Carrhae Capital LLP’s portfolio, making the stock its 18th largest position. Carrhae Capital LLP’s holdings in CEMEX were worth $12,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CX. IFP Advisors Inc boosted its stake in shares of CEMEX by 159.1% during the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after purchasing an additional 3,062 shares in the last quarter. Barclays PLC boosted its position in CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after buying an additional 1,843 shares during the period. Aureus Asset Management LLC bought a new stake in CEMEX during the 3rd quarter worth approximately $70,000. Envestnet Portfolio Solutions Inc. increased its position in CEMEX by 26.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company’s stock valued at $73,000 after acquiring an additional 2,720 shares during the period. Finally, Banco Santander S.A. bought a new position in shares of CEMEX during the fourth quarter valued at $78,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

CEMEX Price Performance

Shares of NYSE CX opened at $6.07 on Tuesday. The company has a market capitalization of $8.79 billion, a PE ratio of 9.63 and a beta of 1.45. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. CEMEX, S.A.B. de C.V. has a twelve month low of $5.00 and a twelve month high of $9.27. The firm has a fifty day simple moving average of $6.12 and a 200 day simple moving average of $5.88.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. On average, sell-side analysts forecast that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, March 18th. Stockholders 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 currently 12.70%.

Analyst Ratings Changes

CX has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Royal Bank of Canada increased their price target on CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, CEMEX presently has a consensus rating of “Hold” and a consensus target price of $7.82.

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.