CEMEX, S.A.B. de C.V. (NYSE:CX) Shares Sold by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC trimmed its position in CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 20.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 588,000 shares of the construction company's stock after selling 149,000 shares during the period. CEMEX makes up about 4.0% of ABS Direct Equity Fund LLC's portfolio, making the stock its 7th largest holding. ABS Direct Equity Fund LLC's holdings in CEMEX were worth $3,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CX. Ashton Thomas Private Wealth LLC acquired a new stake in shares of CEMEX during the 2nd quarter valued at $33,000. Barclays PLC raised its stake in CEMEX by 41.8% during 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 during the period. Allworth Financial LP raised its stake in CEMEX by 36.0% during the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company's stock valued at $40,000 after purchasing an additional 1,747 shares during the period. Aureus Asset Management LLC acquired a new stake in CEMEX during the 3rd quarter valued at $70,000. Finally, Vontobel Holding Ltd. acquired a new stake in CEMEX during the 3rd quarter valued at $77,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on CX shares. Scotiabank cut their target price on shares of CEMEX from $10.00 to $8.90 and set a "sector outperform" rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. downgraded shares of CEMEX from an "overweight" rating to a "neutral" rating and cut their target price for the company from $7.00 to $6.00 in a research note on Tuesday, October 29th. Royal Bank of Canada cut their target price on shares of CEMEX from $6.50 to $6.00 and set a "sector perform" rating on the stock in a research note on Tuesday, October 29th. StockNews.com downgraded shares of CEMEX from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 11th. Finally, Barclays dropped their price target on shares of CEMEX from $9.00 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.82.

CEMEX Stock Performance

CX stock traded down $0.08 during mid-day trading on Tuesday, reaching $5.74. 9,999,576 shares of the stock traded hands, compared to its average volume of 8,745,074. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. CEMEX, S.A.B. de C.V. has a 52 week low of $5.00 and a 52 week high of $9.27. The business has a 50-day moving average of $5.69 and a two-hundred day moving average of $6.15. The firm has a market capitalization of $8.32 billion, a PE ratio of 19.13 and a beta of 1.50.

CEMEX Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.0207 per share. The ex-dividend date is Tuesday, December 10th. CEMEX's dividend payout ratio is 13.33%.

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.