Balyasny Asset Management L.P. Sells 5,695,721 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Balyasny Asset Management L.P. trimmed its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 83.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,135,476 shares of the construction company's stock after selling 5,695,721 shares during the quarter. Balyasny Asset Management L.P. owned 0.08% of CEMEX worth $6,404,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc grew its stake in CEMEX by 159.1% during the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock worth $28,000 after purchasing an additional 3,062 shares in the last quarter. Barclays PLC increased its position in CEMEX by 41.8% during the third quarter. Barclays PLC now owns 6,249 shares of the construction company's stock worth $38,000 after buying an additional 1,843 shares during the period. Townsquare Capital LLC acquired a new position in CEMEX in the fourth quarter valued at $57,000. Dark Forest Capital Management LP acquired a new position in shares of CEMEX in the fourth quarter valued at approximately $59,000. Finally, Franklin Resources Inc. acquired a new position in shares of CEMEX during the fourth quarter worth about $63,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bradesco Corretora set a $7.50 target price on shares of CEMEX and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. StockNews.com upgraded CEMEX from a "hold" rating to a "buy" rating in a report on Saturday, May 3rd. Royal Bank of Canada raised their price objective on CEMEX from $5.00 to $5.25 and gave the company an "underperform" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. lifted their target price on CEMEX from $6.00 to $6.80 and gave the stock a "neutral" rating in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group boosted their price objective 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, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $7.58.

CEMEX Stock Performance

CX traded up $0.26 on Tuesday, hitting $6.82. The company had a trading volume of 20,530,258 shares, compared to its average volume of 11,225,044. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 10.83 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58. The company's fifty day moving average price is $5.81 and its 200 day moving average price is $5.81. CEMEX, S.A.B. de C.V. has a 1-year low of $4.89 and a 1-year high of $8.10.

CEMEX (NYSE:CX - Get Free Report) last released its earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. The business had revenue of $186.46 million for the quarter, compared to the consensus estimate of $214.59 million. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. Equities analysts predict that CEMEX, S.A.B. de C.V. will post 0.69 earnings per share for the current fiscal year.

CEMEX Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, March 18th. Shareholders of record on Monday, March 10th were issued a dividend of $0.0207 per share. The ex-dividend date of this dividend was Monday, March 10th. CEMEX's dividend payout ratio is 8.33%.

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.