Leuthold Group LLC Cuts Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Leuthold Group LLC reduced its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 565,846 shares of the construction company’s stock after selling 5,052 shares during the period. Leuthold Group LLC’s holdings in CEMEX were worth $3,616,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CX. Capital International Investors boosted its holdings 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 buying an additional 152,587 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of CEMEX by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock valued at $127,697,000 after acquiring an additional 112,479 shares during the period. RWC Asset Advisors US LLC boosted its stake in shares of CEMEX by 32.3% during 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 acquiring an additional 3,796,262 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of CEMEX by 17.6% in the 4th quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock worth $76,262,000 after acquiring an additional 1,471,407 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in CEMEX by 1.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock valued at $68,274,000 after purchasing an additional 94,790 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

CEMEX Price Performance

NYSE:CX opened at $6.18 on Thursday. CEMEX, S.A.B. de C.V. has a 12-month low of $5.50 and a 12-month high of $9.27. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 44.14 and a beta of 1.48. The company’s 50-day moving average is $6.26 and its two-hundred day moving average is $7.18. 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 announced its earnings results on Thursday, July 25th. The construction company reported $0.17 earnings per share (EPS) for the quarter. The firm 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%. Research analysts expect that CEMEX, S.A.B. de C.V. will post 0.84 EPS for the current year.

CEMEX Cuts Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th will be given a $0.021 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, September 13th. CEMEX’s dividend payout ratio is currently 28.57%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. StockNews.com upgraded CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 18th. The Goldman Sachs Group initiated coverage on shares of CEMEX in a research note on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price objective on the stock. Barclays upgraded shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price for the company in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, CEMEX currently has an average rating of “Moderate Buy” and a consensus 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.