CEMEX, S.A.B. de C.V. (NYSE:CX) is ABS Direct Equity Fund LLC’s 8th Largest Position

ABS Direct Equity Fund LLC cut its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 584,300 shares of the construction company’s stock after selling 3,700 shares during the period. CEMEX makes up 3.8% of ABS Direct Equity Fund LLC’s holdings, making the stock its 8th biggest holding. ABS Direct Equity Fund LLC’s holdings in CEMEX were worth $3,295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in shares of CEMEX by 36.0% in the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after acquiring an additional 1,747 shares during the last quarter. Barclays PLC lifted its stake in CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after purchasing an additional 1,843 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its stake in CEMEX by 3.6% during the third quarter. Legacy Wealth Asset Management LLC now owns 75,949 shares of the construction company’s stock worth $463,000 after purchasing an additional 2,654 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of CEMEX by 14.7% during the third quarter. Private Advisor Group LLC now owns 26,831 shares of the construction company’s stock worth $164,000 after buying an additional 3,441 shares during the period. Finally, Ballentine Partners LLC grew its stake in shares of CEMEX by 14.5% in the third quarter. Ballentine Partners LLC now owns 29,736 shares of the construction company’s stock valued at $181,000 after buying an additional 3,777 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays lowered their target price on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. Royal Bank of Canada downgraded shares of CEMEX from a “sector perform” rating to an “underperform” rating and cut their target price for the stock from $6.00 to $5.00 in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut shares of CEMEX from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Finally, Scotiabank cut their price objective on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.65.

CEMEX Trading Down 1.4 %

Shares of NYSE:CX opened at $5.90 on Tuesday. The company has a market cap of $8.54 billion, a PE ratio of 19.65 and a beta of 1.49. The company’s 50 day moving average is $5.61 and its two-hundred day moving average is $5.91. CEMEX, S.A.B. de C.V. has a 52 week low of $5.00 and a 52 week high of $9.27. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49.

CEMEX Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th were paid a $0.0207 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s dividend payout ratio is presently 20.00%.

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.