Raymond James Financial Services Advisors Inc. Cuts Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 25.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,489 shares of the construction company’s stock after selling 5,022 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in CEMEX were worth $103,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC increased its stake in CEMEX by 24.6% in the 2nd quarter. International Assets Investment Management LLC now owns 17,934 shares of the construction company’s stock valued at $70,000 after purchasing an additional 3,545 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in CEMEX by 33.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,787 shares of the construction company’s stock valued at $66,000 after purchasing an additional 4,228 shares in the last quarter. Meridian Investment Counsel Inc. increased its stake in CEMEX by 11.5% in the 1st quarter. Meridian Investment Counsel Inc. now owns 52,350 shares of the construction company’s stock valued at $289,000 after purchasing an additional 5,400 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in CEMEX by 58.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,387 shares of the construction company’s stock valued at $80,000 after purchasing an additional 5,676 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in CEMEX by 40.9% in the 2nd quarter. Quantbot Technologies LP now owns 19,587 shares of the construction company’s stock valued at $76,000 after purchasing an additional 5,687 shares in the last quarter. 31.81% of the stock is owned by hedge funds and other institutional investors.

CEMEX Price Performance

CX stock opened at $6.79 on Wednesday. CEMEX, S.A.B. de C.V. has a 52-week low of $3.98 and a 52-week high of $8.46. The stock’s fifty day simple moving average is $6.63 and its 200-day simple moving average is $6.89. The company has a quick ratio of 0.58, a current ratio of 0.89 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 0.55 and a beta of 1.41.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CX. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 1st. JPMorgan Chase & Co. increased their target price on CEMEX from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Barclays increased their target price on CEMEX from $8.00 to $9.00 in a report on Friday, July 28th. Morgan Stanley increased their target price on CEMEX from $9.00 to $12.00 in a report on Friday, July 28th. Finally, Citigroup reiterated a “buy” rating and set a $8.20 target price on shares of CEMEX in a report on Thursday, November 2nd. Two equities research 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 presently has an average rating of “Moderate Buy” and an average price target of $8.47.

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 worldwide. The company also offers asphalt, concrete blocks, concrete block paving, rail sleepers, and flooring systems; architectural concrete products; and box culverts, bridges, drainage basins, barriers, and parking curbs.