GFS Advisors LLC Raises Stock Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

GFS Advisors LLC lifted its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 1,505.0% during the third quarter, HoldingsChannel.com reports. The fund owned 166,427 shares of the construction company’s stock after purchasing an additional 156,058 shares during the quarter. GFS Advisors LLC’s holdings in CEMEX were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in CEMEX by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock valued at $127,697,000 after acquiring an additional 112,479 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of CEMEX by 28.4% during the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock worth $121,113,000 after purchasing an additional 4,217,562 shares during the last quarter. RWC Asset Advisors US LLC raised its stake in shares of CEMEX by 32.3% during the second quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock worth $99,398,000 after purchasing an additional 3,796,262 shares during the last quarter. Perpetual Ltd lifted its holdings in shares of CEMEX by 12.6% during the third quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock worth $61,089,000 after purchasing an additional 1,117,379 shares during the period. Finally, Marathon Asset Management Ltd grew its position in CEMEX by 6.2% in the 3rd quarter. Marathon Asset Management Ltd now owns 7,343,309 shares of the construction company’s stock valued at $44,794,000 after buying an additional 426,357 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CX has been the subject of several recent analyst reports. Barclays reduced their target price on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. The Goldman Sachs Group started coverage on shares of CEMEX in a research report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price objective for the company. Royal Bank of Canada dropped 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. JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. Finally, Scotiabank dropped their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, CEMEX currently has an average rating of “Moderate Buy” and a consensus price target of $7.82.

CEMEX Stock Performance

Shares of CX stock opened at $5.18 on Friday. The stock has a fifty day moving average price of $5.96 and a 200 day moving average price of $6.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.65 and a current ratio of 0.98. The stock has a market cap of $7.51 billion, a PE ratio of 17.27 and a beta of 1.50. CEMEX, S.A.B. de C.V. has a 1 year low of $5.17 and a 1 year high of $9.27.

CEMEX Cuts Dividend

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

CEMEX 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.