Sagefield Capital LP Has $8.80 Million Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Sagefield Capital LP boosted its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 41.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,376,687 shares of the construction company’s stock after buying an additional 401,447 shares during the period. CEMEX makes up about 0.9% of Sagefield Capital LP’s holdings, making the stock its 28th biggest position. Sagefield Capital LP owned approximately 0.10% of CEMEX worth $8,797,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CX. Vanguard Personalized Indexing Management LLC grew its stake in CEMEX by 32.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,546 shares of the construction company’s stock valued at $213,000 after purchasing an additional 6,683 shares in the last quarter. Chesapeake Capital Corp IL purchased a new position in CEMEX in the fourth quarter valued at about $368,000. Parallel Advisors LLC grew its stake in CEMEX by 11.5% in the fourth quarter. Parallel Advisors LLC now owns 14,006 shares of the construction company’s stock valued at $109,000 after purchasing an additional 1,443 shares in the last quarter. Allianz Asset Management GmbH grew its stake in CEMEX by 5.0% in the fourth quarter. Allianz Asset Management GmbH now owns 682,877 shares of the construction company’s stock valued at $5,292,000 after purchasing an additional 32,530 shares in the last quarter. Finally, Holistic Financial Partners grew its stake in CEMEX by 17.7% in the fourth quarter. Holistic Financial Partners now owns 14,783 shares of the construction company’s stock valued at $115,000 after purchasing an additional 2,220 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CX. Barclays upgraded CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $8.00 price target on shares of CEMEX in a research note on Wednesday, August 21st. The Goldman Sachs Group initiated coverage on CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 price target for the company. Finally, StockNews.com upgraded CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.70.

CEMEX Price Performance

Shares of NYSE:CX opened at $6.43 on Tuesday. The business has a 50 day moving average price of $6.24 and a 200 day moving average price of $7.14. CEMEX, S.A.B. de C.V. has a twelve month low of $5.50 and a twelve month high of $9.27. The company has a market cap of $9.31 billion, a price-to-earnings ratio of 45.89 and a beta of 1.48. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53.

CEMEX (NYSE:CX) last announced its earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. The firm had revenue of $4.49 billion during the quarter. Research analysts predict that CEMEX, S.A.B. de C.V. will post 0.84 earnings per share for the current year.

CEMEX Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Tuesday, September 24th. Investors of record on Friday, September 13th will be paid a dividend of $0.021 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a yield of 0.7%. CEMEX’s payout ratio is 28.57%.

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.