Rhumbline Advisers Trims Stock Position in Cemex S.A.B. de C.V. (NYSE:CX)

Rhumbline Advisers cut its holdings in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 17.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,880 shares of the construction company’s stock after selling 3,019 shares during the period. Rhumbline Advisers’ holdings in Cemex were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in shares of Cemex by 159.1% in the 4th 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 period. Barclays PLC grew its holdings in Cemex by 56.2% during the fourth quarter. Barclays PLC now owns 9,759 shares of the construction company’s stock worth $55,000 after acquiring an additional 3,510 shares during the period. Townsquare Capital LLC purchased a new position in Cemex during the fourth quarter valued at approximately $57,000. Dark Forest Capital Management LP acquired a new position in Cemex in the fourth quarter valued at approximately $59,000. Finally, Raiffeisen Bank International AG purchased a new stake in Cemex in the 4th quarter worth approximately $59,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Cemex Stock Performance

CX opened at $6.86 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 7.14, a PEG ratio of 1.30 and a beta of 1.40. Cemex S.A.B. de C.V. has a 52-week low of $4.89 and a 52-week high of $7.34. The firm’s fifty day simple moving average is $6.60 and its two-hundred day simple moving average is $6.11.

Cemex (NYSE:CX) last issued its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. Cemex had a net margin of 8.84% and a return on equity of 6.47%. The firm had revenue of $186.46 million for the quarter, compared to analyst estimates of $214.59 million. Equities 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 announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a $0.0224 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.09 annualized dividend and a dividend yield of 1.31%. Cemex’s dividend payout ratio (DPR) is presently 8.33%.

Analyst Ratings Changes

CX has been the subject of several recent research reports. Itau BBA Securities lowered shares of Cemex from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 3rd. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a report on Saturday, May 3rd. Morgan Stanley downgraded shares of Cemex from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 26th. The Goldman Sachs Group increased their target price on shares of Cemex from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. lifted their price target on Cemex from $6.00 to $6.80 and gave the company a “neutral” rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.58.

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.