Bank of America Corp DE Sells 8,920,858 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Bank of America Corp DE lessened its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 96.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,934 shares of the construction company’s stock after selling 8,920,858 shares during the quarter. Bank of America Corp DE’s holdings in CEMEX were worth $2,064,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CX. IFP Advisors Inc lifted its holdings in CEMEX by 159.1% during the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock valued at $28,000 after purchasing an additional 3,062 shares during the last quarter. Barclays PLC lifted its holdings in CEMEX by 56.2% during the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company’s stock valued at $55,000 after purchasing an additional 3,510 shares during the last quarter. Townsquare Capital LLC purchased a new stake in CEMEX during the fourth quarter valued at about $57,000. Dark Forest Capital Management LP purchased a new stake in CEMEX during the fourth quarter valued at about $59,000. Finally, Franklin Resources Inc. purchased a new stake in CEMEX during the fourth quarter valued at about $63,000. Institutional investors own 82.97% of the company’s stock.

CEMEX Trading Down 0.4%

CEMEX stock opened at $6.82 on Tuesday. The business has a 50-day simple moving average of $6.07 and a two-hundred day simple moving average of $5.96. The company has a market cap of $9.88 billion, a P/E ratio of 10.83 and a beta of 1.41. CEMEX, S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $7.37. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43.

CEMEX (NYSE:CX) last posted its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. The firm had revenue of $186.46 million for the quarter, compared to analysts’ expectations of $214.59 million. Analysts predict that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of CEMEX from $6.00 to $6.80 and gave the stock a “neutral” rating in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of CEMEX from a “hold” rating to a “buy” rating in a research report on Saturday, May 3rd. Morgan Stanley cut shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 26th. The Goldman Sachs Group upped their price objective on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Bradesco Corretora set a $7.50 price objective on shares of CEMEX and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.58.

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.