Letko Brosseau & Associates Inc. Buys 125,975 Shares of Cemex S.A.B. de C.V. $CX

Letko Brosseau & Associates Inc. increased its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,823,500 shares of the construction company’s stock after acquiring an additional 125,975 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Cemex were worth $43,932,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its holdings in shares of Cemex by 5.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock worth $193,000 after buying an additional 913 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Cemex by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock worth $2,875,000 after buying an additional 1,221 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cemex by 4.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock worth $329,000 after buying an additional 1,288 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Cemex by 3.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock worth $387,000 after buying an additional 1,389 shares during the period. Finally, Lesa Sroufe & Co boosted its holdings in shares of Cemex by 0.4% during the 4th quarter. Lesa Sroufe & Co now owns 376,017 shares of the construction company’s stock worth $4,320,000 after buying an additional 1,391 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Scotiabank boosted their price objective on shares of Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a report on Friday, April 10th. Barclays reissued an “overweight” rating on shares of Cemex in a report on Thursday, March 12th. JPMorgan Chase & Co. boosted their price objective on shares of Cemex from $14.00 to $14.50 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $12.75 price objective on shares of Cemex in a report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.77.

Insider Buying and Selling at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $12.16, for a total transaction of $425,600.00. Following the completion of the sale, the insider owned 846,010 shares of the company’s stock, valued at approximately $10,287,481.60. This represents a 3.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Cemex Stock Performance

Shares of Cemex stock opened at $12.07 on Wednesday. The company has a 50 day moving average of $12.36 and a 200-day moving average of $11.93. Cemex S.A.B. de C.V. has a 1-year low of $6.63 and a 1-year high of $13.67. The company has a current ratio of 0.87, a quick ratio of 0.63 and a debt-to-equity ratio of 0.35. The company has a market cap of $17.48 billion, a PE ratio of 37.70 and a beta of 1.51.

Cemex (NYSE:CX) last issued its quarterly earnings results on Tuesday, March 31st. The construction company reported $0.16 earnings per share for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. As a group, equities research analysts forecast that Cemex S.A.B. de C.V. will post 0.91 earnings per share for the current fiscal year.

Cemex Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Wednesday, June 17th will be issued a dividend of $0.0312 per share. This is a boost from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.0%. Cemex’s payout ratio is currently 28.13%.

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.