CEMEX, S.A.B. de C.V. (NYSE:CX) Shares Sold by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. lowered its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 26.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,407,547 shares of the construction company’s stock after selling 3,424,009 shares during the quarter. CEMEX comprises about 2.5% of Itau Unibanco Holding S.A.’s holdings, making the stock its 14th largest position. Itau Unibanco Holding S.A. owned 0.65% of CEMEX worth $58,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Capital International Investors raised its stake in CEMEX by 0.5% during the fourth quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock worth $217,024,000 after purchasing an additional 152,587 shares during the period. Principal Financial Group Inc. raised its position in shares of CEMEX by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock worth $127,697,000 after buying an additional 112,479 shares during the period. RWC Asset Advisors US LLC boosted its holdings in CEMEX by 32.3% in the second quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock valued at $99,398,000 after acquiring an additional 3,796,262 shares during the last quarter. Schroder Investment Management Group boosted its holdings in CEMEX by 17.6% in the fourth quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock valued at $76,262,000 after acquiring an additional 1,471,407 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in CEMEX by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock valued at $68,274,000 after acquiring an additional 94,790 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

CEMEX Trading Up 1.3 %

NYSE CX opened at $6.44 on Friday. The company’s fifty day simple moving average is $6.25 and its 200-day simple moving average is $7.16. The stock has a market cap of $9.33 billion, a P/E ratio of 46.00 and a beta of 1.48. CEMEX, S.A.B. de C.V. has a 52 week low of $5.50 and a 52 week high of $9.27. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 0.53.

CEMEX (NYSE:CX) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $4.49 billion during the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. Equities research analysts predict that CEMEX, S.A.B. de C.V. will post 0.84 EPS for the current fiscal year.

CEMEX Cuts Dividend

The company also recently declared a Variable dividend, which will be paid on Tuesday, September 24th. Investors of record on Friday, September 13th will be paid a $0.021 dividend. The ex-dividend date is Friday, September 13th. This represents a yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is 28.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CX shares. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 18th. The Goldman Sachs Group began coverage on shares of CEMEX in a research report on Wednesday, July 10th. They set a “buy” rating and a $9.00 price target on the stock. Barclays raised 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 report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $8.00 price target on shares of CEMEX in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.70.

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.