Sagefield Capital LP Purchases 401,447 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Sagefield Capital LP grew its position in CEMEX, S.A.B. de C.V. (NYSE:CX) by 41.2% in the second quarter, Holdings Channel.com reports. The fund owned 1,376,687 shares of the construction company’s stock after buying an additional 401,447 shares during the period. CEMEX makes up 0.9% of Sagefield Capital LP’s investment portfolio, making the stock its 28th largest holding. Sagefield Capital LP’s holdings in CEMEX were worth $8,797,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CX. RWC Asset Advisors US LLC lifted its position in shares of CEMEX by 32.3% during the 2nd quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock worth $99,398,000 after buying an additional 3,796,262 shares during the period. Schroder Investment Management Group lifted its position in shares of CEMEX by 17.6% during the 4th quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock worth $76,262,000 after buying an additional 1,471,407 shares during the period. Moneda S.A. Administradora General de Fondos lifted its position in shares of CEMEX by 92.1% during the 1st quarter. Moneda S.A. Administradora General de Fondos now owns 2,040,397 shares of the construction company’s stock worth $18,384,000 after buying an additional 978,264 shares during the period. Panagora Asset Management Inc. lifted its position in shares of CEMEX by 6,721.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 867,845 shares of the construction company’s stock worth $5,546,000 after buying an additional 855,122 shares during the period. Finally, Blackstone Inc. bought a new position in shares of CEMEX during the 1st quarter worth approximately $7,658,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CX shares. Barclays upgraded CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price for the company in a research report on Wednesday, July 31st. StockNews.com upgraded CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $8.00 price target on shares of CEMEX in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group started coverage on CEMEX in a report on Wednesday, July 10th. They set a “buy” rating and a $9.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.70.

CEMEX Trading Down 0.2 %

CX stock opened at $6.43 on Tuesday. The business has a fifty day moving average price of $6.24 and a 200 day moving average price of $7.14. CEMEX, S.A.B. de C.V. has a fifty-two week low of $5.50 and a fifty-two week high of $9.27. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 45.89 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65.

CEMEX (NYSE:CX) last released its earnings results on Thursday, July 25th. The construction company reported $0.17 EPS for the quarter. The company had revenue of $4.49 billion during the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. Analysts expect that CEMEX, S.A.B. de C.V. will post 0.84 EPS for the current fiscal year.

CEMEX Cuts Dividend

The company also recently announced a Variable dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th will be paid a $0.021 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is currently 28.57%.

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.