Beck Capital Management LLC Decreases Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Beck Capital Management LLC decreased its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 23.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 260,444 shares of the construction company’s stock after selling 77,918 shares during the quarter. Beck Capital Management LLC’s holdings in CEMEX were worth $1,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in CEMEX in the 3rd quarter worth about $190,346,000. Principal Financial Group Inc. raised its holdings in shares of CEMEX by 0.6% during the second quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock valued at $127,697,000 after purchasing an additional 112,479 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of CEMEX by 28.4% during the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after purchasing an additional 4,217,562 shares during the last quarter. RWC Asset Advisors US LLC boosted its holdings in CEMEX by 32.3% in the second quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock worth $99,398,000 after purchasing an additional 3,796,262 shares during the last quarter. Finally, Perpetual Ltd grew its position in CEMEX by 12.6% in the 3rd quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock worth $61,089,000 after purchasing an additional 1,117,379 shares during the period. Institutional investors own 82.97% of the company’s stock.

CEMEX Stock Up 2.6 %

CX stock opened at $5.57 on Monday. The business’s 50-day moving average price is $5.76 and its 200-day moving average price is $6.25. The stock has a market cap of $8.07 billion, a P/E ratio of 18.57 and a beta of 1.49. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. CEMEX, S.A.B. de C.V. has a twelve month low of $5.00 and a twelve month high of $9.27.

CEMEX Cuts Dividend

The company also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were issued a dividend of $0.021 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX’s dividend payout ratio is currently 13.33%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays lowered their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Scotiabank lowered their target price on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Royal Bank of Canada cut their price target on CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 29th. StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. cut shares of CEMEX from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.82.

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.