Letko Brosseau & Associates Inc. Has $43.93 Million Holdings in Cemex S.A.B. de C.V. $CX

Letko Brosseau & Associates Inc. grew its position in Cemex S.A.B. de C.V. (NYSE:CX) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,823,500 shares of the construction company’s stock after purchasing an additional 125,975 shares during the quarter. Letko Brosseau & Associates Inc. owned approximately 0.26% of Cemex worth $43,932,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Cerity Partners LLC bought a new position in shares of Cemex in the fourth quarter valued at approximately $166,000. O Shaughnessy Asset Management LLC raised its position in shares of Cemex by 22.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,268,909 shares of the construction company’s stock valued at $14,580,000 after purchasing an additional 234,759 shares during the period. Syon Capital LLC bought a new stake in Cemex during the fourth quarter valued at about $163,000. Mercuria Capital Strategies LLC bought a new stake in Cemex during the fourth quarter valued at about $2,621,000. Finally, Havemeyer Place LP bought a new stake in Cemex during the fourth quarter valued at about $135,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

CX has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $12.75 price target on shares of Cemex in a report on Friday, April 24th. Barclays restated an “overweight” rating on shares of Cemex in a report on Thursday, March 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Cemex in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Cemex from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, Scotiabank raised their price objective on shares of Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a research note on Friday, April 10th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.77.

Cemex Stock Up 0.2%

Cemex stock opened at $12.07 on Wednesday. The firm has a market capitalization of $17.48 billion, a PE ratio of 37.70 and a beta of 1.51. The company’s 50-day moving average is $12.36 and its 200-day moving average is $11.93. Cemex S.A.B. de C.V. has a fifty-two week low of $6.63 and a fifty-two week high of $13.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.63.

Cemex (NYSE:CX) last released its quarterly earnings data on Tuesday, March 31st. The construction company reported $0.16 earnings per share for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. Sell-side analysts anticipate that Cemex S.A.B. de C.V. will post 0.91 earnings per share for the current year.

Cemex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th will be paid a dividend of $0.0312 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.12 annualized dividend and a dividend yield of 1.0%. This is a boost from Cemex’s previous quarterly dividend of $0.02. Cemex’s dividend payout ratio (DPR) is presently 28.13%.

Insider Buying and Selling at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total transaction of $425,600.00. Following the transaction, the insider directly owned 846,010 shares in the company, valued at $10,287,481.60. The trade was a 3.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Cemex Company 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.