AdvisorShares Investments LLC Lowers Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

AdvisorShares Investments LLC reduced its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,617 shares of the construction company’s stock after selling 2,226 shares during the quarter. AdvisorShares Investments LLC’s holdings in CEMEX were worth $582,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC increased its stake in shares of CEMEX by 304.5% during the second quarter. Headlands Technologies LLC now owns 20,199 shares of the construction company’s stock valued at $129,000 after buying an additional 15,205 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of CEMEX in the 2nd quarter valued at $33,000. Ballentine Partners LLC raised its position in shares of CEMEX by 22.9% in the 2nd quarter. Ballentine Partners LLC now owns 25,959 shares of the construction company’s stock worth $166,000 after acquiring an additional 4,832 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of CEMEX during the 2nd quarter worth $150,000. Finally, National Bank of Canada FI boosted its position in CEMEX by 167.3% during the second quarter. National Bank of Canada FI now owns 908,200 shares of the construction company’s stock valued at $5,703,000 after purchasing an additional 568,400 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $8.00 target price on shares of CEMEX in a report on Wednesday, August 21st. Royal Bank of Canada initiated coverage on shares of CEMEX in a research note on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 target price for the company. The Goldman Sachs Group initiated coverage on CEMEX in a report on Wednesday, July 10th. They set a “buy” rating and a $9.00 target price for the company. StockNews.com raised shares of CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Finally, Barclays upgraded 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 note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $8.70.

CEMEX Stock Down 1.2 %

CEMEX stock opened at $5.60 on Wednesday. CEMEX, S.A.B. de C.V. has a 52 week low of $5.54 and a 52 week high of $9.27. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 40.00 and a beta of 1.48. The business’s 50-day moving average price is $6.30 and its 200 day moving average price is $7.25. 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 posted 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 firm had revenue of $4.49 billion during the quarter. As a group, sell-side analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.84 earnings per share for the current year.

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th will be given a $0.021 dividend. The ex-dividend date is Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is currently 14.29%.

CEMEX 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.