Allspring Global Investments Holdings LLC Sells 280,493 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Allspring Global Investments Holdings LLC lowered its stake in CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,248,142 shares of the construction company's stock after selling 280,493 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.50% of CEMEX worth $44,214,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Ballentine Partners LLC boosted its holdings in CEMEX by 6.9% during the first quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company's stock worth $190,000 after buying an additional 1,358 shares during the last quarter. CWM LLC grew its holdings in CEMEX by 75.0% during the first quarter. CWM LLC now owns 3,514 shares of the construction company's stock valued at $32,000 after purchasing an additional 1,506 shares during the period. Thompson Davis & CO. Inc. increased its stake in CEMEX by 6.3% in the first quarter. Thompson Davis & CO. Inc. now owns 26,800 shares of the construction company's stock valued at $241,000 after purchasing an additional 1,600 shares in the last quarter. Lesa Sroufe & Co raised its holdings in CEMEX by 0.4% in the first quarter. Lesa Sroufe & Co now owns 400,951 shares of the construction company's stock worth $3,613,000 after purchasing an additional 1,731 shares during the period. Finally, Claro Advisors LLC raised its holdings in CEMEX by 6.9% in the first quarter. Claro Advisors LLC now owns 30,842 shares of the construction company's stock worth $278,000 after purchasing an additional 1,998 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com downgraded CEMEX from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 11th. Barclays upgraded CEMEX from an "equal weight" rating to an "overweight" rating and set a $9.00 price objective for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of CEMEX from $8.00 to $7.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group started coverage on shares of CEMEX in a report on Wednesday, July 10th. They issued a "buy" rating and a $9.00 price target for the company. Finally, Royal Bank of Canada upgraded shares of CEMEX from an "underperform" rating to a "sector perform" rating and dropped their price objective for the stock from $9.00 to $6.50 in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $8.12.

CEMEX Stock Up 1.0 %

CEMEX stock traded up $0.06 during mid-day trading on Wednesday, reaching $5.90. The company's stock had a trading volume of 7,947,667 shares, compared to its average volume of 8,400,523. The business's 50 day simple moving average is $6.12 and its 200 day simple moving average is $6.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.65 and a current ratio of 0.90. CEMEX, S.A.B. de C.V. has a 12 month low of $5.50 and a 12 month high of $9.27. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 41.75 and a beta of 1.47.

CEMEX (NYSE:CX - Get Free Report) last released its earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $4.49 billion for the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. As a group, research analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.79 earnings per share for the current year.

CEMEX Cuts Dividend

The company also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were issued a dividend of $0.021 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 0.7%. CEMEX's payout ratio is 28.57%.

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.