Connor Clark & Lunn Investment Management Ltd. Sells 82,445 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 14.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CX. JPMorgan Chase & Co. boosted 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 last quarter. Loomis Sayles & Co. L P lifted its stake in CEMEX by 63.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 5,397,977 shares of the construction company’s stock worth $32,927,000 after purchasing an additional 2,090,688 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of CEMEX by 46.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 52,237 shares of the construction company’s stock valued at $319,000 after purchasing an additional 16,585 shares during the last quarter. IFP Advisors Inc grew its position in shares of CEMEX by 159.1% during the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after purchasing an additional 3,062 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of CEMEX by 30.5% in the fourth quarter. QRG Capital Management Inc. now owns 30,937 shares of the construction company’s stock worth $174,000 after purchasing an additional 7,232 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

CEMEX Price Performance

NYSE:CX opened at $6.08 on Tuesday. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 9.64 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58. The business has a 50 day simple moving average of $6.08 and a 200-day simple moving average of $5.88. CEMEX, S.A.B. de C.V. has a 1 year low of $5.00 and a 1 year high of $9.27.

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, 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%. Equities analysts forecast that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

CEMEX Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. 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. Royal Bank of Canada upped their price objective on CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.82.

CEMEX Company 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.