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

Beck Capital Management LLC trimmed 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 filing with the Securities and Exchange Commission. The institutional investor owned 260,444 shares of the construction company’s stock after selling 77,918 shares during the period. Beck Capital Management LLC’s holdings in CEMEX were worth $1,589,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CX. Ashton Thomas Private Wealth LLC purchased a new stake in CEMEX during the second quarter valued at about $33,000. Allworth Financial LP lifted its position in CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,747 shares during the last quarter. Aureus Asset Management LLC purchased a new stake in shares of CEMEX during the third quarter valued at approximately $70,000. Vontobel Holding Ltd. bought a new position in shares of CEMEX in the third quarter worth approximately $77,000. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of CEMEX in the second quarter worth $81,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

CX has been the topic of a number of recent analyst reports. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Scotiabank cut their target price on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut 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 research note on Tuesday, October 29th. Royal Bank of Canada decreased their target price on CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Tuesday, October 29th. Finally, Barclays decreased their price objective on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $7.82.

CEMEX Trading Up 2.6 %

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

CEMEX Cuts Dividend

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

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.