Truist Financial Corp Sells 2,210 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Truist Financial Corp decreased its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 10.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,037 shares of the construction company’s stock after selling 2,210 shares during the quarter. Truist Financial Corp’s holdings in CEMEX were worth $115,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CX. Principal Financial Group Inc. raised its position in CEMEX by 0.6% during the second quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock valued at $127,697,000 after purchasing an additional 112,479 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of CEMEX by 28.4% during the 2nd quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after buying an additional 4,217,562 shares in the last quarter. RWC Asset Advisors US LLC lifted its position in CEMEX by 32.3% in the 2nd quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock worth $99,398,000 after buying an additional 3,796,262 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in CEMEX by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock worth $68,274,000 after buying an additional 94,790 shares in the last quarter. Finally, RWC Asset Management LLP grew its position in CEMEX by 11.7% during the second quarter. RWC Asset Management LLP now owns 4,818,540 shares of the construction company’s stock valued at $30,790,000 after acquiring an additional 503,532 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada upgraded shares of CEMEX from an “underperform” rating to a “sector perform” rating and lowered their price objective for the stock from $9.00 to $6.50 in a report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price objective on CEMEX from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. StockNews.com lowered CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. The Goldman Sachs Group began 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. Finally, Barclays raised 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, CEMEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.12.

CEMEX Price Performance

CX opened at $5.97 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.65 and a current ratio of 0.90. The stock has a market capitalization of $8.65 billion, a PE ratio of 42.64 and a beta of 1.47. The stock’s 50 day moving average price is $6.14 and its 200-day moving average price is $6.81. CEMEX, S.A.B. de C.V. has a 52-week low of $5.50 and a 52-week high of $9.27.

CEMEX (NYSE:CX) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share for the quarter. The business had revenue of $4.49 billion for the quarter. CEMEX had a net margin of 1.05% and a return on equity of 1.66%. On average, equities research analysts predict that CEMEX, S.A.B. de C.V. will post 0.79 EPS for the current year.

CEMEX Cuts Dividend

The company also recently disclosed a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were given a dividend of $0.021 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 0.7%. CEMEX’s payout ratio is 28.57%.

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.