International Assets Investment Management LLC Acquires 378,158 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

International Assets Investment Management LLC increased its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 519.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,940 shares of the construction company's stock after buying an additional 378,158 shares during the quarter. International Assets Investment Management LLC's holdings in CEMEX were worth $27,510,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new position in CEMEX in the second quarter valued at about $33,000. Vontobel Holding Ltd. acquired a new position in shares of CEMEX in the 3rd quarter worth approximately $77,000. Thoroughbred Financial Services LLC acquired a new stake in CEMEX during the 2nd quarter valued at $81,000. KCM Investment Advisors LLC acquired a new stake in CEMEX during the 1st quarter valued at $91,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in CEMEX in the 1st quarter valued at $102,000. Institutional investors and hedge funds own 82.97% of the company's stock.

CEMEX Trading Down 3.8 %

Shares of CEMEX stock traded down $0.21 during trading hours on Tuesday, hitting $5.25. The company's stock had a trading volume of 11,958,950 shares, compared to its average volume of 8,536,219. The company has a market capitalization of $7.61 billion, a PE ratio of 37.50 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65. The stock has a 50 day moving average of $6.06 and a 200 day moving average of $6.69. CEMEX, S.A.B. de C.V. has a 12 month low of $5.21 and a 12 month high of $9.27.

CEMEX Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CX shares. JPMorgan Chase & Co. cut shares of CEMEX from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $7.00 to $6.00 in a research report on Tuesday. Scotiabank dropped their price objective on shares of CEMEX from $10.00 to $8.90 and set a "sector outperform" rating for the company in a research report on Tuesday. Royal Bank of Canada reduced their price objective on CEMEX from $6.50 to $6.00 and set a "sector perform" rating on the stock in a report on Tuesday. StockNews.com cut CEMEX from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 11th. Finally, The Goldman Sachs Group assumed coverage on CEMEX in a research note on Wednesday, July 10th. They set a "buy" rating and a $9.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $7.87.

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.