River Global Investors LLP Sells 39,135 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

River Global Investors LLP decreased its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 569,173 shares of the construction company’s stock after selling 39,135 shares during the quarter. CEMEX comprises about 0.7% of River Global Investors LLP’s investment portfolio, making the stock its 29th biggest holding. River Global Investors LLP’s holdings in CEMEX were worth $3,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of CEMEX during the second quarter valued at approximately $33,000. Allworth Financial LP raised its stake in shares of CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,747 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of CEMEX during the third quarter valued at $77,000. Thoroughbred Financial Services LLC purchased a new stake in shares of CEMEX during the second quarter valued at $81,000. Finally, KCM Investment Advisors LLC bought a new stake in CEMEX in the 1st quarter worth about $91,000. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

CEMEX Stock Performance

Shares of CX stock traded down $0.19 during mid-day trading on Friday, reaching $5.89. 15,363,670 shares of the company’s stock traded hands, compared to its average volume of 11,732,634. CEMEX, S.A.B. de C.V. has a 12 month low of $5.00 and a 12 month high of $9.27. The firm has a 50 day moving average price of $5.91 and a two-hundred day moving average price of $6.52. The firm has a market capitalization of $8.54 billion, a PE ratio of 19.63 and a beta of 1.49. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98.

CEMEX Cuts Dividend

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

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.