Black Creek Investment Management Inc. Raises Stock Position in Cemex S.A.B. de C.V. $CX

Black Creek Investment Management Inc. raised its holdings in Cemex S.A.B. de C.V. (NYSE:CX) by 1,607.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 270,740 shares of the construction company’s stock after purchasing an additional 254,881 shares during the quarter. Cemex accounts for approximately 0.1% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Black Creek Investment Management Inc.’s holdings in Cemex were worth $2,434,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CX. Cresset Asset Management LLC purchased a new stake in shares of Cemex in the third quarter worth about $95,000. Segall Bryant & Hamill LLC purchased a new stake in Cemex in the 3rd quarter worth approximately $583,000. Aprio Wealth Management LLC grew its stake in shares of Cemex by 6.6% during the 3rd quarter. Aprio Wealth Management LLC now owns 26,733 shares of the construction company’s stock worth $240,000 after purchasing an additional 1,650 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Cemex during the 3rd quarter worth approximately $3,555,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of Cemex during the 3rd quarter valued at approximately $1,124,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CX shares. Scotiabank increased their price target on shares of Cemex from $11.10 to $13.50 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. HSBC cut Cemex from a “buy” rating to a “hold” rating and set a $12.80 price target for the company. in a report on Friday, February 6th. Finally, Barclays reissued an “overweight” rating and issued a $15.00 price objective on shares of Cemex in a report on Tuesday, January 27th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.04.

Cemex Trading Down 6.0%

CX stock opened at $11.42 on Wednesday. Cemex S.A.B. de C.V. has a 12-month low of $4.89 and a 12-month high of $13.35. The business’s 50-day moving average is $12.38 and its 200 day moving average is $10.74. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.33. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.82 and a beta of 1.60.

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

Cemex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Wednesday, March 11th will be issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, March 11th. This is an increase from Cemex’s previous quarterly dividend of $0.02. Cemex’s payout ratio is 13.64%.

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.