Perpetual Ltd cut its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,378,647 shares of the construction company's stock after selling 635,993 shares during the quarter. Perpetual Ltd owned 0.65% of CEMEX worth $52,896,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Barclays PLC increased its stake in 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. Allworth Financial LP increased its stake in shares of 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 acquiring an additional 1,747 shares during the last quarter. Aureus Asset Management LLC purchased a new position in CEMEX during the third quarter worth approximately $70,000. Vontobel Holding Ltd. acquired a new position in CEMEX in the third quarter valued at $77,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of CEMEX in the 3rd quarter valued at about $87,000. Institutional investors and hedge funds own 82.97% of the company's stock.
CEMEX Price Performance
Shares of NYSE CX traded up $0.16 during midday trading on Tuesday, reaching $5.52. The company's stock had a trading volume of 5,492,045 shares, compared to its average volume of 10,922,087. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 18.38 and a beta of 1.49. CEMEX, S.A.B. de C.V. has a one year low of $5.00 and a one year high of $9.27. The company has a 50 day moving average price of $5.58 and a 200 day moving average price of $5.93. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49.
CEMEX Announces Dividend
The company also recently disclosed a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.0207 per share. The ex-dividend date was Tuesday, December 10th. CEMEX's dividend payout ratio is presently 20.00%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on CX. JPMorgan Chase & Co. cut shares of CEMEX from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $7.00 to $6.00 in a research report on Tuesday, October 29th. Barclays decreased their price target on CEMEX from $9.00 to $8.00 and set an "overweight" rating for the company in a research note on Tuesday, October 29th. Royal Bank of Canada lowered CEMEX from a "sector perform" rating to an "underperform" rating and lowered their target price for the company from $6.00 to $5.00 in a report on Wednesday, December 11th. StockNews.com lowered shares of CEMEX from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 11th. Finally, Scotiabank cut their target price on CEMEX from $10.00 to $8.90 and set a "sector outperform" rating on the stock in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.65.
Read Our Latest Research Report on CX
About CEMEX
(
Free Report)
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.
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