Ballentine Partners LLC Grows Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Ballentine Partners LLC boosted its stake in CEMEX, S.A.B. de C.V. (NYSE:CX) by 14.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 29,736 shares of the construction company’s stock after purchasing an additional 3,777 shares during the period. Ballentine Partners LLC’s holdings in CEMEX were worth $181,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in CEMEX by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock valued at $127,697,000 after purchasing an additional 112,479 shares during the last quarter. AQR Capital Management LLC increased its holdings in CEMEX by 28.4% in the 2nd 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 last quarter. RWC Asset Advisors US LLC increased its holdings in CEMEX by 32.3% in the 2nd 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 last quarter. Perpetual Ltd increased 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in CEMEX by 1.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock valued at $68,274,000 after purchasing an additional 94,790 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CX. Royal Bank of Canada dropped their target price on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Tuesday. Barclays dropped their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday. Scotiabank dropped their price target on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research note on Tuesday. StockNews.com downgraded shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. Finally, The Goldman Sachs Group initiated coverage on shares of CEMEX in a research note on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price target for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.87.

CEMEX Price Performance

CEMEX stock opened at $5.25 on Wednesday. The stock has a market cap of $7.61 billion, a P/E ratio of 37.50 and a beta of 1.47. The company has a fifty day simple moving average of $6.06 and a 200-day simple 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. 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 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 of this dividend was Friday, September 13th. This represents a yield of 0.7%. CEMEX’s dividend payout ratio (DPR) 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.