Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

Connor Clark & Lunn Investment Management Ltd. boosted its position in CEMEX, S.A.B. de C.V. (NYSE:CX) by 17.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 568,233 shares of the construction company’s stock after purchasing an additional 85,485 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in CEMEX were worth $3,466,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in CEMEX by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock worth $127,697,000 after purchasing an additional 112,479 shares in the last quarter. AQR Capital Management LLC increased its position in shares of CEMEX by 28.4% during the 2nd quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after purchasing an additional 4,217,562 shares during the last quarter. RWC Asset Advisors US LLC increased 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 valued at $99,398,000 after purchasing an additional 3,796,262 shares during the last quarter. Perpetual Ltd increased its position in shares of CEMEX by 12.6% during the 3rd quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock valued at $61,089,000 after purchasing an additional 1,117,379 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of CEMEX by 8.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock valued at $60,327,000 after purchasing an additional 807,394 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

CEMEX Trading Up 0.9 %

Shares of NYSE:CX opened at $5.50 on Monday. The business’s 50-day moving average is $5.83 and its 200 day moving average is $6.33. CEMEX, S.A.B. de C.V. has a 1 year low of $5.00 and a 1 year high of $9.27. The firm has a market capitalization of $7.97 billion, a P/E ratio of 18.33 and a beta of 1.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73.

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were issued a $0.021 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, September 13th. CEMEX’s dividend payout ratio is presently 13.33%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada cut their target price on CEMEX from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 29th. Barclays cut their price objective on CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Scotiabank cut their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. downgraded CEMEX from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CEMEX presently has a consensus rating of “Moderate Buy” and an average target price of $7.82.

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.