American Century Companies Inc. Has $28.46 Million Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

American Century Companies Inc. cut its stake in CEMEX, S.A.B. de C.V. (NYSE:CX) by 32.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,453,930 shares of the construction company’s stock after selling 2,135,030 shares during the quarter. American Century Companies Inc. owned approximately 0.31% of CEMEX worth $28,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors raised its position in CEMEX by 0.5% during the fourth quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock valued at $217,024,000 after acquiring an additional 152,587 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of CEMEX by 0.6% during 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 in the last quarter. RWC Asset Advisors US LLC lifted its stake in shares of 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. Schroder Investment Management Group lifted its stake in shares of CEMEX by 17.6% in the 4th quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock valued at $76,262,000 after purchasing an additional 1,471,407 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in CEMEX by 1.3% in the first 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 in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

CEMEX Stock Performance

Shares of NYSE CX opened at $6.18 on Thursday. CEMEX, S.A.B. de C.V. has a 12 month low of $5.50 and a 12 month high of $9.27. The company has a market cap of $8.95 billion, a P/E ratio of 44.14 and a beta of 1.48. The business’s 50 day moving average is $6.26 and its two-hundred day moving average is $7.18. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53.

CEMEX (NYSE:CX) last released 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 business had revenue of $4.49 billion during the quarter. On average, equities analysts expect that CEMEX, S.A.B. de C.V. will post 0.84 EPS for the current year.

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.021 per share. This represents a dividend yield of 0.7%. The ex-dividend date is Friday, September 13th. CEMEX’s payout ratio is presently 28.57%.

Wall Street Analysts Forecast Growth

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

CEMEX Company 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.