Schroder Investment Management Group lessened its position in shares of Cemex SAB de CV (NYSE:CX) by 6.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 536,332 shares of the construction company’s stock after selling 34,326 shares during the quarter. Schroder Investment Management Group’s holdings in Cemex SAB de CV were worth $3,776,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC grew its holdings in Cemex SAB de CV by 548.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 14,145 shares of the construction company’s stock valued at $1,639,000 after buying an additional 11,964 shares in the last quarter. Moody National Bank Trust Division purchased a new position in shares of Cemex SAB de CV in the 3rd quarter worth approximately $123,000. 180 Wealth Advisors LLC boosted its holdings in shares of Cemex SAB de CV by 80.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 26,527 shares of the construction company’s stock worth $174,000 after purchasing an additional 11,848 shares during the period. Cedar Wealth Management LLC purchased a new position in shares of Cemex SAB de CV in the 3rd quarter worth approximately $193,000. Finally, Natixis boosted its holdings in shares of Cemex SAB de CV by 53.8% in the 2nd quarter. Natixis now owns 31,976 shares of the construction company’s stock worth $210,000 after purchasing an additional 11,180 shares during the period. Institutional investors and hedge funds own 34.25% of the company’s stock.
Shares of CX stock opened at $5.02 on Friday. Cemex SAB de CV has a 52-week low of $4.47 and a 52-week high of $8.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.81 and a quick ratio of 0.57. The company has a market cap of $7.27 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 0.59 and a beta of 1.72.
A number of brokerages have recently commented on CX. ValuEngine upgraded Cemex SAB de CV from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. JPMorgan Chase & Co. set a $9.00 target price on Cemex SAB de CV and gave the stock a “buy” rating in a report on Monday, September 24th. Citigroup set a $10.00 target price on Cemex SAB de CV and gave the stock a “buy” rating in a report on Tuesday, September 4th. HSBC cut Cemex SAB de CV from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a report on Thursday, August 16th. Finally, Zacks Investment Research cut Cemex SAB de CV from a “hold” rating to a “sell” rating in a report on Monday, October 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Cemex SAB de CV presently has a consensus rating of “Hold” and an average target price of $8.86.
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About Cemex SAB de CV
CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.
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