CEMEX, S.A.B. de C.V. (NYSE:CX) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,518 shares of the construction company’s stock after selling 21,217 shares during the quarter. Ritholtz Wealth Management’s holdings in CEMEX were worth $894,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of CEMEX by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock worth $127,697,000 after acquiring an additional 112,479 shares during the period. AQR Capital Management LLC lifted its position in CEMEX by 28.4% in the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after purchasing an additional 4,217,562 shares during the period. RWC Asset Advisors US LLC lifted its position in CEMEX by 32.3% in the second quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock valued at $99,398,000 after purchasing an additional 3,796,262 shares during the period. Perpetual Ltd boosted its holdings in CEMEX by 12.6% in the 3rd quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock valued at $61,089,000 after purchasing an additional 1,117,379 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in CEMEX by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock worth $68,274,000 after purchasing an additional 94,790 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

CEMEX Stock Performance

NYSE:CX opened at $6.03 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $8.73 billion, a P/E ratio of 43.04 and a beta of 1.47. The firm has a 50-day moving average price of $6.17 and a two-hundred day moving average price of $6.90. CEMEX, S.A.B. de C.V. has a twelve month low of $5.50 and a twelve month high of $9.27.

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

CEMEX Cuts Dividend

The firm also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were paid a dividend of $0.021 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX’s dividend payout ratio is presently 28.57%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CX. JPMorgan Chase & Co. decreased their price target on CEMEX from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada upgraded shares of CEMEX from an “underperform” rating to a “sector perform” rating and decreased their target price for the stock from $9.00 to $6.50 in a research report on Tuesday, October 8th. The Goldman Sachs Group assumed 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. StockNews.com downgraded shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Barclays raised shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price for the company in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.12.

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.