Mirabella Financial Services LLP Acquires New Position in Cemex S.A.B. de C.V. $CX

Mirabella Financial Services LLP bought a new position in shares of Cemex S.A.B. de C.V. (NYSE:CX) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 85,628 shares of the construction company’s stock, valued at approximately $770,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Dodge & Cox boosted its position in Cemex by 1.8% in the 3rd quarter. Dodge & Cox now owns 96,734,370 shares of the construction company’s stock valued at $869,642,000 after buying an additional 1,710,535 shares during the period. Brandes Investment Partners LP grew its stake in shares of Cemex by 7.7% in the second quarter. Brandes Investment Partners LP now owns 32,648,163 shares of the construction company’s stock worth $226,252,000 after acquiring an additional 2,337,817 shares in the last quarter. Orbis Allan Gray Ltd increased its position in shares of Cemex by 90.2% during the second quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock worth $182,263,000 after acquiring an additional 12,469,417 shares during the period. Wellington Management Group LLP increased its position in shares of Cemex by 451.7% during the third quarter. Wellington Management Group LLP now owns 16,897,356 shares of the construction company’s stock worth $151,907,000 after acquiring an additional 13,834,438 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Cemex by 4.3% in the third quarter. Dimensional Fund Advisors LP now owns 12,183,183 shares of the construction company’s stock valued at $109,530,000 after acquiring an additional 499,504 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Cemex Stock Performance

NYSE CX opened at $10.33 on Friday. The company has a fifty day moving average of $12.14 and a two-hundred day moving average of $10.87. The company has a market capitalization of $14.96 billion, a PE ratio of 15.65 and a beta of 1.60. Cemex S.A.B. de C.V. has a 1 year low of $4.89 and a 1 year high of $13.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.83 and a quick ratio of 0.62.

Cemex (NYSE:CX) last released its quarterly earnings results on Thursday, February 5th. The construction company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.38). The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.01 billion. Cemex had a return on equity of 2.85% and a net margin of 5.93%. As a group, analysts expect that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Wednesday, March 11th were given a $0.0225 dividend. This is a positive change from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date was Wednesday, March 11th. This represents a $0.09 annualized dividend and a yield of 0.9%. Cemex’s payout ratio is currently 13.64%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CX shares. Barclays reiterated an “overweight” rating on shares of Cemex in a report on Thursday, March 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. Zacks Research downgraded Cemex from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Scotiabank upgraded shares of Cemex from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $13.50 to $13.90 in a research note on Wednesday, March 11th. Finally, HSBC cut shares of Cemex from a “buy” rating to a “hold” rating and set a $12.80 target price on the stock. in a report on Friday, February 6th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.08.

About Cemex

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.