Oaktree Capital Management LP Lowers Position in Cemex S.A.B. de C.V. $CX

Oaktree Capital Management LP trimmed its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 23.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,839,032 shares of the construction company’s stock after selling 4,544,697 shares during the period. Cemex accounts for 1.8% of Oaktree Capital Management LP’s holdings, making the stock its 9th largest position. Oaktree Capital Management LP’s holdings in Cemex were worth $102,834,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Yousif Capital Management LLC boosted its holdings in shares of Cemex by 7.3% in the 2nd quarter. Yousif Capital Management LLC now owns 25,159 shares of the construction company’s stock valued at $174,000 after purchasing an additional 1,710 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Cemex by 2.4% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 79,800 shares of the construction company’s stock worth $553,000 after buying an additional 1,843 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Cemex by 63.7% in the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after buying an additional 2,027 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in Cemex by 6.0% in the second quarter. Thompson Davis & CO. Inc. now owns 36,045 shares of the construction company’s stock valued at $250,000 after acquiring an additional 2,045 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Cemex by 16.2% during the second quarter. Sequoia Financial Advisors LLC now owns 14,819 shares of the construction company’s stock worth $103,000 after acquiring an additional 2,068 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group lifted their price target on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Barclays lifted their target price on shares of Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada upped 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.14.

Cemex Price Performance

Shares of CX opened at $10.99 on Friday. The business’s fifty day moving average is $9.87 and its 200 day moving average is $8.63. Cemex S.A.B. de C.V. has a 12-month low of $4.89 and a 12-month high of $11.01. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.37. The stock has a market cap of $15.92 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.24 and a beta of 1.61.

Cemex (NYSE:CX) last posted its earnings results on Tuesday, October 28th. The construction company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.01 by $0.15. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $226.73 million. Cemex had a net margin of 8.62% and a return on equity of 6.85%. Sell-side analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

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.