Raymond James & Associates Sells 45,539 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Raymond James & Associates reduced its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 55.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,684 shares of the construction company’s stock after selling 45,539 shares during the quarter. Raymond James & Associates’ holdings in CEMEX were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CX. HighTower Advisors LLC lifted its holdings in shares of CEMEX by 8.1% during the first quarter. HighTower Advisors LLC now owns 255,170 shares of the construction company’s stock valued at $1,349,000 after purchasing an additional 19,051 shares in the last quarter. Private Advisor Group LLC lifted its holdings in CEMEX by 164.4% in the first quarter. Private Advisor Group LLC now owns 38,153 shares of the construction company’s stock valued at $202,000 after acquiring an additional 23,725 shares during the period. PNC Financial Services Group Inc. lifted its holdings in CEMEX by 58.4% in the first quarter. PNC Financial Services Group Inc. now owns 15,387 shares of the construction company’s stock valued at $80,000 after acquiring an additional 5,676 shares during the period. Natixis Advisors L.P. lifted its holdings in CEMEX by 23.6% in the first quarter. Natixis Advisors L.P. now owns 278,056 shares of the construction company’s stock valued at $1,471,000 after acquiring an additional 53,124 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in CEMEX by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,277,600 shares of the construction company’s stock valued at $43,789,000 after acquiring an additional 270,749 shares during the period. 31.81% of the stock is owned by institutional investors.

CEMEX Stock Performance

NYSE:CX opened at $6.94 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.58 and a debt-to-equity ratio of 0.50. CEMEX, S.A.B. de C.V. has a 12-month low of $3.98 and a 12-month high of $8.46. The stock has a 50-day moving average price of $6.55 and a 200 day moving average price of $6.90. The stock has a market capitalization of $10.05 billion, a P/E ratio of 19.83, a P/E/G ratio of 0.56 and a beta of 1.41.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a report on Thursday. JPMorgan Chase & Co. raised their price objective on CEMEX from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Morgan Stanley raised their price objective on CEMEX from $9.00 to $12.00 in a research note on Friday, July 28th. Citigroup reaffirmed a “buy” rating and issued a $8.20 price objective on shares of CEMEX in a research note on Thursday, November 2nd. Finally, Barclays raised their price objective on CEMEX from $8.00 to $9.00 in a research note on Friday, July 28th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.47.

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 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.