Fmr LLC Sells 193,608 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Fmr LLC trimmed its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,588,846 shares of the construction company’s stock after selling 193,608 shares during the quarter. Fmr LLC’s holdings in CEMEX were worth $125,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CX. Ashton Thomas Private Wealth LLC purchased a new position in shares of CEMEX during the second quarter valued at $33,000. Allworth Financial LP grew its stake in CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,747 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of CEMEX during the third quarter worth about $77,000. Thoroughbred Financial Services LLC purchased a new stake in shares of CEMEX during the second quarter worth about $81,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of CEMEX during the third quarter worth about $87,000. 82.97% of the stock is currently owned by institutional investors.

CEMEX Stock Performance

Shares of CEMEX stock opened at $5.76 on Thursday. CEMEX, S.A.B. de C.V. has a 52 week low of $5.00 and a 52 week high of $9.27. The business’s fifty day simple moving average is $5.72 and its 200-day simple moving average is $6.22. The firm has a market cap of $8.35 billion, a PE ratio of 19.20 and a beta of 1.50. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49.

CEMEX Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.0207 per share. The ex-dividend date of this dividend is Tuesday, December 10th. CEMEX’s payout ratio is 20.00%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada decreased their target price on CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Tuesday, October 29th. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Scotiabank cut their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research report on Tuesday, October 29th. Barclays dropped their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $7.82.

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.