Oaktree Capital Management LP Decreases Stock Position in Cemex S.A.B. de C.V. $CX

Oaktree Capital Management LP lowered its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 23.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,839,032 shares of the construction company’s stock after selling 4,544,697 shares during the quarter. Cemex comprises about 1.8% of Oaktree Capital Management LP’s investment portfolio, making the stock its 9th largest position. Oaktree Capital Management LP owned 1.02% of Cemex worth $102,834,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Cemex by 256.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after buying an additional 3,093 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Cemex by 63.7% during the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after acquiring an additional 2,027 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Cemex by 334.7% during the first quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock valued at $52,000 after acquiring an additional 7,075 shares during the period. Parallax Volatility Advisers L.P. bought a new position in Cemex in the first quarter valued at about $60,000. Finally, Inspire Investing LLC acquired a new stake in shares of Cemex during the 2nd quarter worth approximately $70,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Cemex from a “hold” rating to a “buy” rating in a report on Tuesday, November 4th. Scotiabank cut shares of Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price target on the stock. in a research report on Tuesday, October 21st. Citigroup cut shares of Cemex from a “buy” rating to a “neutral” rating and upped their price objective for the company from $9.00 to $10.00 in a research report on Monday, October 13th. Finally, Barclays lifted their target price on Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Four research 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. According to data from MarketBeat, Cemex currently has a consensus rating of “Hold” and a consensus target price of $10.14.

Cemex Trading Up 1.0%

Shares of NYSE:CX opened at $10.99 on Friday. The company has a 50-day simple moving average of $9.87 and a 200 day simple moving average of $8.63. The company has a market capitalization of $15.92 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.91. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $11.01.

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

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.