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

Discovery Capital Management LLC CT purchased a new position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,704,100 shares of the construction company’s stock, valued at approximately $9,611,000. Discovery Capital Management LLC CT owned about 0.12% of CEMEX at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in CEMEX by 159.1% during the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after acquiring an additional 3,062 shares during the last quarter. Barclays PLC increased its position in shares of CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after acquiring an additional 1,843 shares during the period. Franklin Resources Inc. purchased a new position in shares of CEMEX in the 4th quarter valued at about $63,000. Aureus Asset Management LLC purchased a new stake in shares of CEMEX in the 3rd quarter valued at approximately $70,000. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in CEMEX by 26.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,011 shares of the construction company’s stock valued at $73,000 after buying an additional 2,720 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CEMEX Trading Down 0.6 %

NYSE CX opened at $5.63 on Tuesday. The firm has a market capitalization of $8.15 billion, a PE ratio of 8.93 and a beta of 1.45. The company has a 50-day simple moving average of $6.17 and a 200-day simple moving average of $5.89. 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 quick ratio of 0.58 and a current ratio of 0.82.

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

CEMEX Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were paid 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%.

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.