Russell Investments Group Ltd. Has $32.09 Million Stake in CEMEX, S.A.B. de C.V. (NYSE:CX)

Russell Investments Group Ltd. trimmed its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 34.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,566,536 shares of the construction company’s stock after selling 1,834,876 shares during the quarter. Russell Investments Group Ltd.’s holdings in CEMEX were worth $32,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in CEMEX by 675.0% in the 4th quarter. International Assets Investment Management LLC now owns 447,766 shares of the construction company’s stock valued at $34,700,000 after buying an additional 389,990 shares in the last quarter. Capital International Investors increased its holdings in shares of CEMEX by 0.5% in the fourth quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock worth $217,024,000 after acquiring an additional 152,587 shares in the last quarter. Axiom Investors LLC DE boosted its position in shares of CEMEX by 10.2% during the fourth quarter. Axiom Investors LLC DE now owns 6,660,570 shares of the construction company’s stock worth $51,619,000 after buying an additional 614,520 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of CEMEX during the fourth quarter worth about $2,227,000. Finally, Wellington Management Group LLP boosted its position in shares of CEMEX by 76.4% during the fourth quarter. Wellington Management Group LLP now owns 444,262 shares of the construction company’s stock worth $3,443,000 after buying an additional 192,399 shares during the period. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America cut CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Wednesday, April 24th. StockNews.com lowered CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group assumed coverage on CEMEX in a research note on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on CEMEX from $9.50 to $8.50 and set an “overweight” rating on the stock in a research note on Monday, July 8th. Finally, Royal Bank of Canada started coverage on CEMEX in a report on Tuesday, May 14th. They set an “underperform” rating and a $9.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.24.

CEMEX Trading Up 1.7 %

CEMEX stock traded up $0.12 during trading hours on Tuesday, reaching $6.86. The company had a trading volume of 6,352,384 shares, compared to its average volume of 6,825,934. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.78 and a quick ratio of 0.51. The company has a 50-day moving average price of $6.98 and a 200 day moving average price of $7.72. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 48.36 and a beta of 1.47. CEMEX, S.A.B. de C.V. has a 12-month low of $5.67 and a 12-month high of $9.27.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Monday, April 29th. The construction company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $4.14 billion for the quarter. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. During the same period in the previous year, the company earned $0.15 earnings per share. Equities analysts forecast that CEMEX, S.A.B. de C.V. will post 0.85 earnings per share for the current year.

CEMEX Announces Dividend

The firm also recently declared a Variable dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were issued a dividend of $0.349 per share. The ex-dividend date of this dividend was Monday, June 17th. CEMEX’s payout ratio is currently 14.29%.

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.