Seven Eight Capital LP Cuts Stake in CEMEX, S.A.B. de C.V. (NYSE:CX)

Seven Eight Capital LP lowered its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 10.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,758 shares of the construction company’s stock after selling 13,151 shares during the quarter. Seven Eight Capital LP’s holdings in CEMEX were worth $727,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. RWC Asset Advisors US LLC raised its stake in shares of 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 buying an additional 3,796,262 shares during the period. Schroder Investment Management Group raised its stake in CEMEX by 17.6% in the 4th 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 period. Moneda S.A. Administradora General de Fondos lifted its holdings in CEMEX by 92.1% during the first quarter. Moneda S.A. Administradora General de Fondos now owns 2,040,397 shares of the construction company’s stock valued at $18,384,000 after purchasing an additional 978,264 shares during the last quarter. Panagora Asset Management Inc. boosted its position in CEMEX by 6,721.1% during the second quarter. Panagora Asset Management Inc. now owns 867,845 shares of the construction company’s stock worth $5,546,000 after purchasing an additional 855,122 shares during the period. Finally, Blackstone Inc. purchased a new position in shares of CEMEX in the first quarter worth about $7,658,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

CX has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on shares of CEMEX in a report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price objective for the company. Barclays raised CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price target for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $8.00 price objective on shares of CEMEX in a research note on Wednesday, August 21st. Finally, StockNews.com upgraded CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CEMEX has a consensus rating of “Moderate Buy” and a consensus price target of $8.70.

CEMEX Price Performance

CEMEX stock opened at $6.44 on Friday. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 46.00 and a beta of 1.48. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. The business has a 50-day simple moving average of $6.25 and a 200 day simple moving average of $7.16. 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 issued its quarterly earnings data on Thursday, July 25th. The construction company reported $0.17 EPS for the quarter. The company had revenue of $4.49 billion during the quarter. CEMEX had a return on equity of 1.66% and a net margin of 1.05%. On average, research analysts forecast that CEMEX, S.A.B. de C.V. will post 0.84 earnings per share for the current fiscal year.

CEMEX Cuts Dividend

The business 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 dividend of $0.021 per share. This represents a dividend yield of 0.7%. The ex-dividend date is Friday, September 13th. CEMEX’s dividend payout ratio (DPR) is currently 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.