Cemex S.A.B. de C.V. $CX Shares Sold by Oaktree Capital Management LP

Oaktree Capital Management LP lessened its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 51.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,763,083 shares of the construction company’s stock after selling 2,986,241 shares during the quarter. Oaktree Capital Management LP’s holdings in Cemex were worth $31,610,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CX. WealthCollab LLC increased its stake in Cemex by 73.7% during the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after purchasing an additional 1,580 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after buying an additional 3,093 shares during the last quarter. NFSG Corp increased its position in shares of Cemex by 123.5% in the 1st quarter. NFSG Corp now owns 2,858 shares of the construction company’s stock valued at $33,000 after acquiring an additional 1,579 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Cemex in the 4th quarter valued at $34,000. Finally, Militia Capital Partners LP purchased a new position in Cemex in the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays upped their target price on Cemex from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. increased their price objective on shares of Cemex from $14.50 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Finally, Santander raised shares of Cemex to an “outperform” rating in a report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cemex currently has a consensus rating of “Moderate Buy” and an average target price of $13.07.

Cemex Trading Down 2.4%

Shares of NYSE:CX opened at $11.72 on Thursday. The business has a 50 day moving average of $12.53 and a two-hundred day moving average of $12.23. Cemex S.A.B. de C.V. has a 12-month low of $8.17 and a 12-month high of $13.67. The company has a market capitalization of $16.97 billion, a PE ratio of 34.46 and a beta of 1.52. The company has a current ratio of 0.92, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44.

Cemex (NYSE:CX) last released its quarterly earnings data on Tuesday, June 30th. The construction company reported $0.24 earnings per share for the quarter. The company had revenue of $4.59 billion during the quarter. Cemex had a net margin of 2.83% and a return on equity of 3.82%. As a group, analysts forecast that Cemex S.A.B. de C.V. will post 0.87 EPS for the current year.

Cemex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th were issued a $0.0312 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This is an increase from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 1.1%. Cemex’s dividend payout ratio is 35.29%.

Cemex Profile

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.