Truist Financial Corp Cuts Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

Truist Financial Corp lowered its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 10.9% in the 2nd quarter, Holdings Channel reports. The firm owned 18,037 shares of the construction company’s stock after selling 2,210 shares during the period. Truist Financial Corp’s holdings in CEMEX were worth $115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CX. CWM LLC lifted its position 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. Ashton Thomas Private Wealth LLC bought a new position in shares of CEMEX during the 2nd quarter valued at $33,000. Thoroughbred Financial Services LLC purchased a new position in shares of CEMEX in the 2nd quarter worth $81,000. Fisher Asset Management LLC grew its holdings in shares of CEMEX by 3,180.2% in the fourth quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after acquiring an additional 10,590 shares during the period. Finally, KCM Investment Advisors LLC purchased a new stake in CEMEX during the first quarter valued at $91,000. 82.97% of the stock is owned by institutional investors.

CEMEX Price Performance

NYSE CX opened at $5.97 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53. CEMEX, S.A.B. de C.V. has a 12 month low of $5.50 and a 12 month high of $9.27. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 42.64 and a beta of 1.47. The company’s 50 day moving average is $6.14 and its two-hundred day moving average is $6.81.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) 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. 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 firm also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were issued a dividend of $0.021 per share. The ex-dividend date was Friday, September 13th. This represents a yield of 0.7%. CEMEX’s dividend payout ratio is presently 28.57%.

Wall Street Analysts Forecast Growth

CX has been the topic of several research reports. The Goldman Sachs Group began coverage on CEMEX in a research report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 target price on the stock. StockNews.com downgraded shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada raised shares of CEMEX from an “underperform” rating to a “sector perform” rating and reduced their target price for the company from $9.00 to $6.50 in a report on Tuesday, October 8th. Barclays upgraded shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut their price objective on shares of CEMEX from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, CEMEX currently has an average rating of “Moderate Buy” and an average target price 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.