Quantbot Technologies LP Lowers Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

Quantbot Technologies LP decreased its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 29.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 298,185 shares of the construction company’s stock after selling 127,472 shares during the quarter. Quantbot Technologies LP’s holdings in CEMEX were worth $1,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CX. Ashton Thomas Private Wealth LLC purchased a new position in CEMEX in the second quarter worth approximately $33,000. Allworth Financial LP lifted its stake in CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after acquiring an additional 1,747 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in CEMEX in the third quarter worth approximately $77,000. Thoroughbred Financial Services LLC purchased a new position in CEMEX in the second quarter worth approximately $81,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in CEMEX in the third quarter worth approximately $87,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Stock Performance

NYSE:CX opened at $5.58 on Friday. The firm’s fifty day moving average price is $5.78 and its 200 day moving average price is $6.29. CEMEX, S.A.B. de C.V. has a 1-year low of $5.00 and a 1-year high of $9.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 18.10 and a beta of 1.49.

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were given a $0.021 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is 13.33%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Scotiabank cut their price objective on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Royal Bank of Canada cut their price objective on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. cut shares of CEMEX from an “overweight” rating to a “neutral” rating and cut their target price for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. Barclays cut their target price on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.82.

CEMEX Company 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.