Private Advisor Group LLC Grows Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Private Advisor Group LLC lifted its stake in CEMEX, S.A.B. de C.V. (NYSE:CX) by 14.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,831 shares of the construction company’s stock after buying an additional 3,441 shares during the quarter. Private Advisor Group LLC’s holdings in CEMEX were worth $164,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of CEMEX by 0.6% in the second 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 in the last quarter. AQR Capital Management LLC raised its stake in CEMEX by 28.4% during the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after purchasing an additional 4,217,562 shares in the last quarter. RWC Asset Advisors US LLC raised its stake in CEMEX by 32.3% during 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 purchasing an additional 3,796,262 shares in the last quarter. Perpetual Ltd raised its stake in CEMEX by 12.6% during the third quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock valued at $61,089,000 after purchasing an additional 1,117,379 shares in the last quarter. Finally, Marathon Asset Management Ltd raised its stake in CEMEX by 6.2% during the third quarter. Marathon Asset Management Ltd now owns 7,343,309 shares of the construction company’s stock valued at $44,794,000 after purchasing an additional 426,357 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Trading Down 3.1 %

Shares of CX opened at $5.89 on Friday. CEMEX, S.A.B. de C.V. has a twelve month low of $5.00 and a twelve month high of $9.27. The company has a market cap of $8.54 billion, a P/E ratio of 19.63 and a beta of 1.49. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $5.91 and its 200-day simple moving average is $6.53.

CEMEX Cuts Dividend

The business also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were issued a $0.021 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, September 13th. CEMEX’s payout ratio is presently 13.33%.

Analyst Ratings Changes

A number of research firms recently issued reports on CX. Royal Bank of Canada decreased their price target on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 29th. Barclays decreased their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Scotiabank decreased their price target on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research note on Tuesday, October 29th. StockNews.com downgraded shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $6.00 in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.82.

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.