Cemex S.A.B. de C.V. $CX Shares Purchased by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. raised its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 1,607.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 270,740 shares of the construction company’s stock after acquiring an additional 254,881 shares during the period. Cemex makes up approximately 0.1% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 23rd largest position. Black Creek Investment Management Inc.’s holdings in Cemex were worth $2,434,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Dodge & Cox grew its position in shares of Cemex by 35.1% in the second quarter. Dodge & Cox now owns 95,023,835 shares of the construction company’s stock valued at $658,515,000 after purchasing an additional 24,703,035 shares in the last quarter. Brandes Investment Partners LP boosted its stake in Cemex by 7.7% during the second quarter. Brandes Investment Partners LP now owns 32,648,163 shares of the construction company’s stock worth $226,252,000 after buying an additional 2,337,817 shares during the last quarter. Orbis Allan Gray Ltd grew its holdings in Cemex by 90.2% in the 2nd quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock valued at $182,263,000 after buying an additional 12,469,417 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Cemex by 54.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 10,366,666 shares of the construction company’s stock worth $93,196,000 after acquiring an additional 3,639,547 shares during the last quarter. Finally, Perpetual Ltd raised its holdings in shares of Cemex by 0.7% during the 3rd quarter. Perpetual Ltd now owns 9,201,553 shares of the construction company’s stock worth $82,722,000 after acquiring an additional 61,633 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Cemex Stock Performance

NYSE:CX opened at $11.42 on Wednesday. Cemex S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $13.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.62 and a current ratio of 0.83. The company has a 50 day moving average price of $12.38 and a 200 day moving average price of $10.74. The stock has a market capitalization of $16.55 billion, a P/E ratio of 17.30, a PEG ratio of 0.82 and a beta of 1.60.

Cemex (NYSE:CX) last released its quarterly earnings results on Thursday, February 5th. The construction company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.38). Cemex had a return on equity of 2.85% and a net margin of 5.93%.The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.01 billion. Equities research analysts forecast that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Cemex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.0225 per share. This is a positive change from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, March 11th. This represents a $0.09 dividend on an annualized basis and a yield of 0.8%. Cemex’s dividend payout ratio (DPR) is 13.64%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CX. HSBC lowered shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 price objective for the company. in a report on Friday, February 6th. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Zacks Research lowered shares of Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Barclays reiterated an “overweight” rating and issued a $15.00 price objective on shares of Cemex in a report on Tuesday, January 27th. Finally, Scotiabank raised their target price on Cemex from $11.10 to $13.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.04.

About Cemex

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.