Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 14.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 485,788 shares of the construction company’s stock after selling 82,445 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CEMEX were worth $2,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in CEMEX in the 3rd quarter worth about $190,346,000. JPMorgan Chase & Co. increased its position in shares of 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 acquiring an additional 7,986,204 shares during the period. BNP Paribas Financial Markets raised its stake in shares of CEMEX by 166.9% during the third quarter. BNP Paribas Financial Markets now owns 4,077,576 shares of the construction company’s stock valued at $24,873,000 after acquiring an additional 2,549,852 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of CEMEX by 63.2% in the third quarter. Loomis Sayles & Co. L P now owns 5,397,977 shares of the construction company’s stock valued at $32,927,000 after purchasing an additional 2,090,688 shares during the period. Finally, RWC Asset Management LLP boosted its holdings in shares of CEMEX by 46.1% in the fourth quarter. RWC Asset Management LLP now owns 5,862,677 shares of the construction company’s stock valued at $33,065,000 after purchasing an additional 1,848,597 shares during the period. 82.97% of the stock is currently owned by institutional investors.

CEMEX Stock Up 0.9 %

NYSE:CX opened at $6.08 on Tuesday. 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, S.A.B. de C.V. has a twelve month low of $5.00 and a twelve month high of $9.27. The company has a market cap of $8.80 billion, a PE ratio of 9.64 and a beta of 1.45. The company’s 50 day moving average is $6.08 and its two-hundred day moving average is $5.88.

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

CEMEX Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th will be issued a $0.0207 dividend. The ex-dividend date of this dividend is Monday, March 10th. CEMEX’s payout ratio is presently 12.70%.

Analyst Ratings Changes

Several research firms have commented on CX. The Goldman Sachs Group lifted their target price on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Royal Bank of Canada lifted their price objective on CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, CEMEX currently has an average rating of “Hold” and an average price target of $7.82.

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.