Allspring Global Investments Holdings LLC Has $44.21 Million Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Allspring Global Investments Holdings LLC lessened its stake in CEMEX, S.A.B. de C.V. (NYSE:CX) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,248,142 shares of the construction company’s stock after selling 280,493 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CEMEX were worth $44,214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC raised its position in CEMEX by 75.0% during the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock worth $32,000 after acquiring an additional 1,506 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in CEMEX in the 2nd quarter valued at about $33,000. KCM Investment Advisors LLC bought a new position in CEMEX during the first quarter worth about $91,000. Fisher Asset Management LLC grew its holdings in CEMEX by 3,180.2% during the fourth quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after purchasing an additional 10,590 shares during the period. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in CEMEX during the first quarter worth approximately $102,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CX shares. Royal Bank of Canada upgraded CEMEX from an “underperform” rating to a “sector perform” rating and reduced their target price for the stock from $9.00 to $6.50 in a research note on Tuesday, October 8th. Barclays raised shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a research report on Wednesday, July 31st. The Goldman Sachs Group started coverage on shares of CEMEX in a research note on Wednesday, July 10th. They set a “buy” rating and a $9.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of CEMEX from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.12.

CEMEX Trading Down 0.6 %

Shares of CEMEX stock opened at $5.85 on Wednesday. CEMEX, S.A.B. de C.V. has a 52-week low of $5.50 and a 52-week high of $9.27. The stock has a market cap of $8.47 billion, a PE ratio of 41.75 and a beta of 1.47. The firm has a 50-day moving average of $6.12 and a 200-day moving average of $6.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.65 and a current ratio of 0.90.

CEMEX (NYSE:CX) last announced its earnings results 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 for the quarter. As a group, sell-side analysts forecast that CEMEX, S.A.B. de C.V. will post 0.79 EPS for the current year.

CEMEX Cuts Dividend

The business also recently disclosed 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. 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.