Discovery Capital Management LLC CT Makes New $9.61 Million Investment in CEMEX, S.A.B. de C.V. (NYSE:CX)

Discovery Capital Management LLC CT acquired a new position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,704,100 shares of the construction company’s stock, valued at approximately $9,611,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CX. Schroder Investment Management Group lifted its holdings in CEMEX by 745.6% during the 4th quarter. Schroder Investment Management Group now owns 26,739,107 shares of the construction company’s stock valued at $150,809,000 after purchasing an additional 23,576,914 shares during the last quarter. Brandes Investment Partners LP boosted its position in CEMEX by 33.7% during the 4th quarter. Brandes Investment Partners LP now owns 24,233,835 shares of the construction company’s stock worth $136,679,000 after buying an additional 6,110,857 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in shares of CEMEX in the fourth quarter valued at about $86,056,000. JPMorgan Chase & Co. raised its stake in CEMEX by 123.7% during the third quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock worth $88,093,000 after buying an additional 7,986,204 shares during the last quarter. Finally, RWC Asset Advisors US LLC boosted its holdings in shares of CEMEX by 6.4% during the 4th quarter. RWC Asset Advisors US LLC now owns 12,039,601 shares of the construction company’s stock worth $67,903,000 after buying an additional 719,735 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on CX shares. Morgan Stanley downgraded CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. Royal Bank of Canada boosted their price target on shares of CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a research report on Monday, February 10th. Finally, The Goldman Sachs Group upped their target price on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, CEMEX has an average rating of “Hold” and an average price target of $7.82.

CEMEX Stock Down 0.6 %

Shares of CX stock opened at $5.63 on Tuesday. CEMEX, S.A.B. de C.V. has a one year low of $5.00 and a one year high of $9.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 8.93 and a beta of 1.45. The company’s fifty day moving average price is $6.17 and its 200-day moving average price is $5.89.

CEMEX (NYSE:CX) last posted its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share 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%. Sell-side analysts expect that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

CEMEX Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were given a dividend of $0.0207 per share. The ex-dividend date was Monday, March 10th. CEMEX’s dividend payout ratio (DPR) is presently 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.