Oaktree Capital Management LP Reduces Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Oaktree Capital Management LP trimmed its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 0.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 14,589,032 shares of the construction company’s stock after selling 100,000 shares during the period. CEMEX accounts for approximately 1.5% of Oaktree Capital Management LP’s portfolio, making the stock its 15th largest position. Oaktree Capital Management LP owned about 1.01% of CEMEX worth $82,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CX. IFP Advisors Inc grew its position in shares of CEMEX by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after purchasing an additional 3,062 shares during the last quarter. Barclays PLC increased its holdings in CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after purchasing an additional 1,843 shares during the last quarter. Aureus Asset Management LLC acquired a new position in shares of CEMEX in the 3rd quarter worth approximately $70,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of CEMEX by 26.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company’s stock worth $73,000 after purchasing an additional 2,720 shares during the last quarter. Finally, Banco Santander S.A. bought a new position in CEMEX in the 4th quarter worth about $78,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CX shares. Royal Bank of Canada boosted their price objective on CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, February 10th. Morgan Stanley lowered shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their target price on shares of CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, CEMEX currently has an average rating of “Hold” and an average price target of $7.82.

CEMEX Stock Performance

NYSE:CX opened at $5.67 on Friday. The firm has a market capitalization of $8.21 billion, a PE ratio of 8.99 and a beta of 1.45. The firm’s fifty day simple moving average is $6.17 and its 200 day simple moving average is $5.89. CEMEX, S.A.B. de C.V. has a 1 year low of $5.00 and a 1 year high of $9.27. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43.

CEMEX (NYSE:CX) last announced its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. On average, sell-side analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were issued a dividend of $0.0207 per share. The ex-dividend date was Monday, March 10th. CEMEX’s payout ratio is 12.70%.

CEMEX Profile

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.