Electron Capital Partners LLC Cuts Stake in CEMEX, S.A.B. de C.V. (NYSE:CX)

Electron Capital Partners LLC trimmed its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 10.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,389,194 shares of the construction company’s stock after selling 157,406 shares during the quarter. Electron Capital Partners LLC’s holdings in CEMEX were worth $8,877,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ballentine Partners LLC lifted its stake in CEMEX by 6.9% during the 1st quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock valued at $190,000 after acquiring an additional 1,358 shares during the period. Aprio Wealth Management LLC lifted its stake in CEMEX by 8.9% during the 1st quarter. Aprio Wealth Management LLC now owns 17,558 shares of the construction company’s stock valued at $158,000 after acquiring an additional 1,431 shares during the period. Parallel Advisors LLC lifted its stake in CEMEX by 11.5% during the 4th quarter. Parallel Advisors LLC now owns 14,006 shares of the construction company’s stock valued at $109,000 after acquiring an additional 1,443 shares during the period. CWM LLC lifted its stake in shares of CEMEX by 75.0% in the 1st quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after purchasing an additional 1,506 shares during the period. Finally, Thompson Davis & CO. Inc. lifted its stake in shares of CEMEX by 6.3% in the 1st quarter. Thompson Davis & CO. Inc. now owns 26,800 shares of the construction company’s stock worth $241,000 after purchasing an additional 1,600 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 18th. The Goldman Sachs Group assumed coverage on shares of CEMEX in a research note on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price objective on the stock. Barclays upgraded shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective on the stock in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $8.00 target price on shares of CEMEX in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CEMEX has a consensus rating of “Moderate Buy” and a consensus price target of $8.70.

CEMEX Trading Down 1.9 %

Shares of CX opened at $6.35 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65. CEMEX, S.A.B. de C.V. has a 1 year low of $5.50 and a 1 year high of $9.27. The company has a 50 day simple moving average of $6.23 and a two-hundred day simple moving average of $7.13. The firm has a market cap of $9.20 billion, a P/E ratio of 45.36 and a beta of 1.48.

CEMEX (NYSE:CX) last posted its earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. The firm had revenue of $4.49 billion during the quarter. On average, equities analysts expect that CEMEX, S.A.B. de C.V. will post 0.82 earnings per share for the current fiscal year.

CEMEX Cuts Dividend

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