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 lowered its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 96.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 365,934 shares of the construction company's stock after selling 8,920,858 shares during the period. Bank of America Corp DE's holdings in CEMEX were worth $2,064,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CX. Blue Trust Inc. boosted its stake in shares of CEMEX by 17.2% during the fourth quarter. Blue Trust Inc. now owns 50,636 shares of the construction company's stock valued at $309,000 after purchasing an additional 7,423 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CEMEX by 41.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,080 shares of the construction company's stock valued at $170,000 after purchasing an additional 8,795 shares during the period. Choreo LLC purchased a new stake in shares of CEMEX during the fourth quarter valued at approximately $268,000. Activest Wealth Management purchased a new stake in shares of CEMEX during the fourth quarter valued at approximately $113,000. Finally, Vontobel Holding Ltd. boosted its stake in shares of CEMEX by 50.0% during the fourth quarter. Vontobel Holding Ltd. now owns 19,032 shares of the construction company's stock valued at $107,000 after purchasing an additional 6,344 shares during the period. Institutional investors own 82.97% of the company's stock.

CEMEX Trading Down 1.5%

Shares of CEMEX stock traded down $0.10 during midday trading on Friday, reaching $6.71. 8,920,378 shares of the company's stock traded hands, compared to its average volume of 11,718,474. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. The company has a market cap of $9.72 billion, a PE ratio of 10.65 and a beta of 1.41. The stock has a 50 day moving average of $6.16 and a 200-day moving average of $5.99. CEMEX, S.A.B. de C.V. has a 12 month low of $4.89 and a 12 month high of $7.34.

CEMEX (NYSE:CX - Get Free Report) last announced its earnings results on Monday, April 28th. The construction company reported $0.08 EPS for the quarter. The company had revenue of $186.46 million during 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%. As a group, equities analysts expect that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CX shares. JPMorgan Chase & Co. increased their price objective on CEMEX from $6.00 to $6.80 and gave the company a "neutral" rating in a research note on Tuesday, April 29th. Wall Street Zen raised CEMEX from a "hold" rating to a "buy" rating in a research note on Saturday, May 3rd. Royal Bank of Canada increased their price objective on CEMEX from $5.00 to $5.25 and gave the company an "underperform" rating in a research note on Tuesday, April 29th. Bradesco Corretora set a $7.50 price objective on CEMEX and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group increased their price objective on CEMEX from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.