Acadian Asset Management LLC Sells 5,138,505 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Acadian Asset Management LLC trimmed its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 44.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,474,930 shares of the construction company’s stock after selling 5,138,505 shares during the period. Acadian Asset Management LLC owned approximately 0.45% of CEMEX worth $58,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in CEMEX by 4.1% during the first quarter. Vanguard Group Inc. now owns 3,757,831 shares of the construction company’s stock worth $33,858,000 after purchasing an additional 146,327 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of CEMEX by 3.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 744,072 shares of the construction company’s stock worth $6,746,000 after acquiring an additional 22,790 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in CEMEX by 2.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 132,972 shares of the construction company’s stock worth $1,198,000 after buying an additional 3,200 shares in the last quarter. Sei Investments Co. lifted its position in CEMEX by 7.0% during the 1st quarter. Sei Investments Co. now owns 3,463,588 shares of the construction company’s stock valued at $31,207,000 after purchasing an additional 226,897 shares during the period. Finally, Atomi Financial Group Inc. increased its stake in shares of CEMEX by 7.1% in the 1st quarter. Atomi Financial Group Inc. now owns 33,700 shares of the construction company’s stock valued at $304,000 after acquiring an additional 2,241 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

CEMEX Stock Performance

Shares of NYSE CX traded up $0.22 during midday trading on Monday, hitting $6.37. 7,582,714 shares of the company’s stock were exchanged, compared to its average volume of 6,934,726. The company has a quick ratio of 0.51, a current ratio of 0.78 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $9.23 billion, a PE ratio of 43.93 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. The company’s 50 day moving average price is $6.86 and its 200 day moving average price is $7.68.

CEMEX (NYSE:CX) last announced its earnings results on Monday, April 29th. The construction company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. The company had revenue of $4.14 billion during the quarter. During the same period in the previous year, the firm posted $0.15 EPS. As a group, analysts predict that CEMEX, S.A.B. de C.V. will post 0.85 earnings per share for the current fiscal year.

CEMEX Dividend Announcement

The business also recently disclosed a Variable dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were paid a $0.349 dividend. The ex-dividend date was Monday, June 17th. CEMEX’s dividend payout ratio is currently 14.29%.

Analysts Set New Price Targets

CX has been the subject of a number of recent analyst reports. Royal Bank of Canada began coverage on shares of CEMEX in a research report on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 price objective for the company. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Bank of America cut CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 target price for the company. in a research note on Wednesday, April 24th. JPMorgan Chase & Co. reduced their price target on shares of CEMEX from $9.50 to $8.50 and set an “overweight” rating for the company in a report on Monday, July 8th. Finally, The Goldman Sachs Group started coverage on shares of CEMEX in a report on Wednesday, July 10th. They set a “buy” rating and a $9.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.24.

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.