Bristlecone Value Partners LLC Takes $462,000 Position in Cemex S.A.B. de C.V. $CX

Bristlecone Value Partners LLC bought a new stake in Cemex S.A.B. de C.V. (NYSE:CX) in the 4th quarter, Holdings Channel.com reports. The fund bought 40,180 shares of the construction company’s stock, valued at approximately $462,000. Cemex makes up 0.5% of Bristlecone Value Partners LLC’s investment portfolio, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in CX. Schroder Investment Management Group increased its stake in shares of Cemex by 406.2% in the 4th quarter. Schroder Investment Management Group now owns 26,348,884 shares of the construction company’s stock valued at $302,749,000 after buying an additional 21,143,554 shares during the period. Wellington Management Group LLP increased its stake in shares of Cemex by 451.7% in the 3rd quarter. Wellington Management Group LLP now owns 16,897,356 shares of the construction company’s stock valued at $151,907,000 after buying an additional 13,834,438 shares during the period. Orbis Allan Gray Ltd increased its stake in shares of Cemex by 90.2% in the 2nd quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock valued at $182,263,000 after buying an additional 12,469,417 shares during the period. Itau Unibanco Holding S.A. increased its stake in shares of Cemex by 53.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 10,857,832 shares of the construction company’s stock valued at $125,392,000 after buying an additional 3,766,639 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Cemex by 159.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,907,194 shares of the construction company’s stock worth $56,384,000 after purchasing an additional 3,014,149 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Cemex Stock Up 2.0%

Shares of Cemex stock opened at $12.96 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.35. Cemex S.A.B. de C.V. has a 12 month low of $6.63 and a 12 month high of $13.67. The business has a fifty day simple moving average of $12.43 and a 200 day simple moving average of $11.96. The stock has a market cap of $18.77 billion, a PE ratio of 40.49 and a beta of 1.51.

Cemex (NYSE:CX) last announced its quarterly earnings data on Tuesday, March 31st. The construction company reported $0.16 EPS for the quarter. Cemex had a return on equity of 3.64% and a net margin of 2.74%. Research analysts predict that Cemex S.A.B. de C.V. will post 0.91 EPS for the current year.

Cemex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.0312 per share. This is a boost from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, June 17th. Cemex’s dividend payout ratio is presently 37.50%.

Analyst Ratings Changes

CX has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $12.75 price objective on shares of Cemex in a research note on Friday, April 24th. Barclays reaffirmed an “overweight” rating on shares of Cemex in a research note on Thursday, March 12th. Morgan Stanley raised Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a research note on Monday, March 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Cemex from $14.00 to $14.50 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.77.

Insiders Place Their Bets

In other Cemex news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of Cemex stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total transaction of $425,600.00. Following the transaction, the insider directly owned 846,010 shares in the company, valued at approximately $10,287,481.60. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.