International Assets Investment Management LLC Decreases Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

International Assets Investment Management LLC reduced its position in CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 86.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,931 shares of the construction company's stock after selling 392,009 shares during the period. International Assets Investment Management LLC's holdings in CEMEX were worth $335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of CEMEX during the second quarter valued at approximately $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 buying an additional 1,843 shares during the last quarter. Allworth Financial LP lifted its holdings 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 buying an additional 1,747 shares during the period. Aureus Asset Management LLC purchased a new position in shares of CEMEX in the 3rd quarter worth $70,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of CEMEX in the third quarter worth $77,000. 82.97% of the stock is owned by institutional investors.

CEMEX Price Performance

Shares of CX stock traded down $0.13 on Friday, hitting $5.56. 20,620,784 shares of the stock traded hands, compared to its average volume of 12,876,513. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73. CEMEX, S.A.B. de C.V. has a 52 week low of $5.00 and a 52 week high of $9.27. The firm has a 50 day simple moving average of $5.61 and a two-hundred day simple moving average of $5.97. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 18.53 and a beta of 1.49.

CEMEX Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th were given a dividend of $0.0207 per share. The ex-dividend date was Tuesday, December 10th. CEMEX's dividend payout ratio is currently 20.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays lowered their target price on CEMEX from $9.00 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. Royal Bank of Canada downgraded shares of CEMEX from a "sector perform" rating to an "underperform" rating and dropped their price objective for the stock from $6.00 to $5.00 in a report on Wednesday, December 11th. Scotiabank reduced their target price on shares of CEMEX from $10.00 to $8.90 and set a "sector outperform" rating for the company in a report on Tuesday, October 29th. StockNews.com cut shares of CEMEX from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. lowered CEMEX from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $7.00 to $6.00 in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $7.65.

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.