Grantham Mayo Van Otterloo & Co. LLC Sells 1,134,523 Shares of Cemex S.A.B. de C.V. $CX

Grantham Mayo Van Otterloo & Co. LLC lowered its position in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 54.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 961,446 shares of the construction company’s stock after selling 1,134,523 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.07% of Cemex worth $6,663,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cetera Investment Advisers raised its position in shares of Cemex by 18.1% during the 1st quarter. Cetera Investment Advisers now owns 37,391 shares of the construction company’s stock valued at $210,000 after purchasing an additional 5,739 shares during the period. Mackenzie Financial Corp bought a new position in Cemex in the 1st quarter worth $4,159,000. Natixis Advisors LLC increased its stake in Cemex by 0.6% in the 1st quarter. Natixis Advisors LLC now owns 360,898 shares of the construction company’s stock worth $2,025,000 after buying an additional 2,122 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Cemex in the 1st quarter worth $96,000. Finally, Banco Santander S.A. raised its holdings in Cemex by 49.6% during the first quarter. Banco Santander S.A. now owns 20,793 shares of the construction company’s stock valued at $117,000 after acquiring an additional 6,893 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Cemex Trading Up 0.9%

CX stock opened at $10.67 on Friday. The firm has a fifty day moving average price of $9.73 and a 200 day moving average price of $8.53. Cemex S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $10.84. The firm has a market cap of $15.45 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.17 and a beta of 1.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.91.

Cemex (NYSE:CX) last released its quarterly earnings data on Tuesday, October 28th. The construction company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.01 by $0.15. Cemex had a net margin of 8.62% and a return on equity of 6.85%. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $226.73 million. Sell-side analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

Cemex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 17th were given a $0.0224 dividend. The ex-dividend date was Wednesday, September 17th. This represents a $0.09 annualized dividend and a yield of 0.8%. Cemex’s dividend payout ratio (DPR) is currently 9.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. Barclays upped their price target on Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Citigroup cut shares of Cemex from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $9.00 to $10.00 in a research report on Monday, October 13th. Finally, Bank of America raised shares of Cemex from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $10.80 in a report on Wednesday, October 15th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.14.

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.