CEMEX, S.A.B. de C.V. (NYSE:CX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 682,071 shares of the construction company’s stock after selling 45,288 shares during the quarter. Legal & General Group Plc’s holdings in CEMEX were worth $3,843,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of CEMEX by 123.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,441,466 shares of the construction company’s stock valued at $88,093,000 after purchasing an additional 7,986,204 shares during the last quarter. Sanctuary Advisors LLC increased its position in CEMEX by 46.5% during the third quarter. Sanctuary Advisors LLC now owns 52,237 shares of the construction company’s stock worth $319,000 after buying an additional 16,585 shares during the period. IFP Advisors Inc lifted its stake in CEMEX by 159.1% in the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after buying an additional 3,062 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of CEMEX by 13.6% in the fourth quarter. Natixis Advisors LLC now owns 358,776 shares of the construction company’s stock valued at $2,023,000 after acquiring an additional 43,089 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of CEMEX by 30.5% during the fourth quarter. QRG Capital Management Inc. now owns 30,937 shares of the construction company’s stock worth $174,000 after acquiring an additional 7,232 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CX shares. Morgan Stanley cut shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. StockNews.com upgraded shares of CEMEX from a “hold” rating to a “buy” rating in a research note on Wednesday, April 16th. Royal Bank of Canada dropped their price target on CEMEX from $6.00 to $5.00 and set an “underperform” rating on the stock in a research report on Monday, April 14th. Bradesco Corretora set a $7.50 price objective on CEMEX and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group boosted their target price on CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CEMEX has a consensus rating of “Hold” and an average target price of $7.63.

CEMEX Trading Up 3.3 %

NYSE:CX opened at $5.47 on Wednesday. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 8.67 and a beta of 1.28. CEMEX, S.A.B. de C.V. has a 1 year low of $4.89 and a 1 year high of $8.35. The stock has a fifty day moving average price of $5.87 and a two-hundred day moving average price of $5.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. As a group, sell-side analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

CEMEX Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were issued a $0.0207 dividend. The ex-dividend date of this dividend was Monday, March 10th. CEMEX’s dividend payout ratio is currently 12.70%.

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.