Sourcerock Group LLC Has $10.90 Million Stock Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

Sourcerock Group LLC trimmed its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 56.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,933,206 shares of the construction company’s stock after selling 2,486,130 shares during the quarter. CEMEX comprises about 0.8% of Sourcerock Group LLC’s portfolio, making the stock its 27th biggest holding. Sourcerock Group LLC owned approximately 0.13% of CEMEX worth $10,903,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CX. IFP Advisors Inc lifted its position in shares of CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after buying an additional 3,062 shares during the last quarter. Barclays PLC boosted its stake in shares of CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after purchasing an additional 1,843 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of CEMEX during the 4th quarter valued at approximately $57,000. Dark Forest Capital Management LP acquired a new position in CEMEX during the 4th quarter worth approximately $59,000. Finally, Raiffeisen Bank International AG acquired a new stake in CEMEX in the fourth quarter valued at approximately $59,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on CX shares. The Goldman Sachs Group increased their price target on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on CEMEX from $6.00 to $6.80 and gave the stock a “neutral” rating in a report on Tuesday, April 29th. StockNews.com raised CEMEX from a “hold” rating to a “buy” rating in a research note on Saturday, May 3rd. Royal Bank of Canada boosted their price target on CEMEX from $5.00 to $5.25 and gave the stock an “underperform” rating in a report on Tuesday, April 29th. Finally, Morgan Stanley downgraded CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. 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. According to data from MarketBeat.com, CEMEX presently has a consensus rating of “Hold” and an average target price of $7.58.

CEMEX Trading Up 0.1%

NYSE CX opened at $6.86 on Monday. The firm has a market capitalization of $9.93 billion, a PE ratio of 10.88 and a beta of 1.41. The business’s 50-day moving average price is $5.86 and its two-hundred day moving average price is $5.84. 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 12 month low of $4.89 and a 12 month high of $7.89.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. The firm had revenue of $186.46 million for the quarter, compared to the consensus estimate of $214.59 million. On average, analysts expect that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were issued a dividend of $0.0207 per share. The ex-dividend date of this dividend was Monday, March 10th. CEMEX’s payout ratio is currently 8.33%.

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.