Brandes Investment Partners LP Increases Holding in Cemex Sab De Cv (CX)

October 13, 2018 - By Winifred Garcia

CEMEX, S.A.B. de C.V. (NYSE:CX) Logo

Brandes Investment Partners Lp increased its stake in Cemex Sab De Cv (CX) by 9.82% based on its latest 2018Q2 regulatory filing with the SEC. Brandes Investment Partners Lp bought 4.81 million shares as the company’s stock rose 14.08% with the market. The institutional investor held 53.75M shares of the building materials company at the end of 2018Q2, valued at $353.34 million, up from 48.95 million at the end of the previous reported quarter. Brandes Investment Partners Lp who had been investing in Cemex Sab De Cv for a number of months, seems to be bullish on the $9.60 billion market cap company. The stock increased 2.47% or $0.15 during the last trading session, reaching $6.22. About 6.51M shares traded or 12.73% up from the average. CEMEX, S.A.B. de C.V. (NYSE:CX) has declined 23.83% since October 13, 2017 and is downtrending. It has underperformed by 39.45% the S&P500.

Brandes Investment Partners Lp, which manages about $26.91B and $4.44B US Long portfolio, decreased its stake in Bank Amer Corp (NYSE:BAC) by 174,488 shares to 3.64M shares, valued at $102.52M in 2018Q2, according to the filing. It also reduced its holding in Infosys Ltd (NYSE:INFY) by 479,049 shares in the quarter, leaving it with 420,215 shares, and cut its stake in Cameco Corp (NYSE:CCJ).

Another recent and important CEMEX, S.A.B. de C.V. (NYSE:CX) news was published by Seekingalpha.com which published an article titled: “Cemex Still Undervalued – And Somewhat Underwhelming” on September 17, 2018.

CEMEX, S.A.B. de C.V. (NYSE:CX) Ratings Coverage

Among 2 analysts covering Cemex (NYSE:CX), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. Cemex had 3 analyst reports since April 27, 2018 according to SRatingsIntel. The rating was downgraded by Longbow on Friday, April 27 to “Hold”. The stock has “Hold” rating by HSBC on Thursday, August 16.

CEMEX, S.A.B. de C.V. (NYSE:CX) Ratings Chart

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