Marathon Asset Management Ltd Sells 853,582 Shares of Cemex S.A.B. de C.V. $CX

Marathon Asset Management Ltd reduced its position in Cemex S.A.B. de C.V. (NYSE:CX) by 14.0% during the third quarter, HoldingsChannel reports. The fund owned 5,240,589 shares of the construction company’s stock after selling 853,582 shares during the quarter. Cemex comprises 1.7% of Marathon Asset Management Ltd’s holdings, making the stock its 23rd biggest position. Marathon Asset Management Ltd’s holdings in Cemex were worth $47,113,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Northern Trust Corp lifted its holdings in shares of Cemex by 4.6% in the first quarter. Northern Trust Corp now owns 1,785,660 shares of the construction company’s stock worth $10,018,000 after buying an additional 77,898 shares in the last quarter. Vident Advisory LLC raised its position in Cemex by 92.8% during the first quarter. Vident Advisory LLC now owns 119,027 shares of the construction company’s stock valued at $668,000 after purchasing an additional 57,279 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Cemex by 119.9% in the 1st quarter. Panagora Asset Management Inc. now owns 1,906,747 shares of the construction company’s stock worth $10,697,000 after buying an additional 1,039,569 shares during the last quarter. Aprio Wealth Management LLC bought a new stake in Cemex in the first quarter worth $129,000. Finally, Advisors Asset Management Inc. grew its position in Cemex by 10.6% during the 1st quarter. Advisors Asset Management Inc. now owns 743,774 shares of the construction company’s stock worth $4,173,000 after acquiring an additional 71,498 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Cemex Stock Performance

NYSE:CX opened at $12.01 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.91. The stock has a 50-day simple moving average of $10.57 and a two-hundred day simple moving average of $9.16. The firm has a market capitalization of $17.40 billion, a PE ratio of 12.91, a P/E/G ratio of 1.28 and a beta of 1.61. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $12.04.

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

Cemex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were given a $0.0224 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, December 15th. Cemex’s dividend payout ratio is presently 9.68%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CX shares. Bank of America upgraded Cemex from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $10.80 in a report on Wednesday, October 15th. Royal Bank Of Canada lifted their price target on Cemex from $7.00 to $8.25 and gave the company an “underperform” rating in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a report on Wednesday, October 8th. Scotiabank cut shares of Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 target price on the stock. in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group upped their target price on shares of Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.14.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.