RWC Asset Management LLP Purchases 1,848,597 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

RWC Asset Management LLP raised its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 46.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,862,677 shares of the construction company’s stock after purchasing an additional 1,848,597 shares during the quarter. CEMEX makes up approximately 1.7% of RWC Asset Management LLP’s holdings, making the stock its 15th largest holding. RWC Asset Management LLP’s holdings in CEMEX were worth $33,065,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,747 shares during the last quarter. Barclays PLC lifted its holdings in shares of CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after buying an additional 1,843 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of CEMEX by 3.6% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 75,949 shares of the construction company’s stock worth $463,000 after purchasing an additional 2,654 shares in the last quarter. Private Advisor Group LLC increased its stake in CEMEX by 14.7% during the 3rd quarter. Private Advisor Group LLC now owns 26,831 shares of the construction company’s stock worth $164,000 after acquiring an additional 3,441 shares during the period. Finally, Ballentine Partners LLC lifted its position in CEMEX by 14.5% during the third quarter. Ballentine Partners LLC now owns 29,736 shares of the construction company’s stock worth $181,000 after purchasing an additional 3,777 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

CEMEX Stock Performance

CEMEX stock opened at $6.54 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. 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 cap of $9.47 billion, a P/E ratio of 10.37 and a beta of 1.49. The firm has a 50-day moving average of $5.92 and a 200-day moving average of $5.91.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. Sell-side analysts expect that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.0207 per share. The ex-dividend date was Tuesday, December 10th. CEMEX’s dividend payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CX. Scotiabank reduced their price target on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Barclays decreased their price target 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. JPMorgan Chase & Co. downgraded shares of 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 research report on Tuesday, October 29th. Finally, Royal Bank of Canada lifted their target price on CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, CEMEX currently has an average rating of “Hold” and an average price target of $7.82.

About CEMEX

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.