Choreo LLC Sells 30,400 Shares of Cemex S.A.B. de C.V. (NYSE:CX)

Choreo LLC cut its stake in shares of Cemex S.A.B. de C.V. (NYSE:CX - Free Report) by 63.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,161 shares of the construction company's stock after selling 30,400 shares during the quarter. Choreo LLC's holdings in Cemex were worth $96,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CX. LPL Financial LLC boosted its holdings in Cemex by 12.8% in the 4th quarter. LPL Financial LLC now owns 190,591 shares of the construction company's stock worth $1,075,000 after buying an additional 21,617 shares during the period. Vanguard Group Inc. boosted its stake in shares of Cemex by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,863,502 shares of the construction company's stock worth $21,790,000 after acquiring an additional 53,269 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of Cemex by 38.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 20,854 shares of the construction company's stock worth $118,000 after acquiring an additional 5,767 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in shares of Cemex during the fourth quarter worth about $1,735,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in Cemex during the 4th quarter valued at approximately $1,498,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CX. Bradesco Corretora set a $7.50 price target on Cemex and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Itau BBA Securities lowered shares of Cemex from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. raised their target price on shares of 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 cut shares of Cemex from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $7.91.

Cemex Price Performance

CX stock opened at $8.71 on Friday. Cemex S.A.B. de C.V. has a 52 week low of $4.89 and a 52 week high of $8.79. The firm has a market capitalization of $12.62 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. The company has a fifty day simple moving average of $7.26 and a two-hundred day simple moving average of $6.45. The company has a quick ratio of 0.61, a current ratio of 0.86 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX - Get Free Report) last announced its earnings results on Thursday, July 24th. The construction company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.05. The firm had revenue of $4.13 billion for the quarter, compared to analysts' expectations of $4.20 billion. Cemex had a net margin of 9.61% and a return on equity of 6.89%. 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 business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.0224 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.09 annualized dividend and a dividend yield of 1.0%. Cemex's payout ratio is currently 7.84%.

About Cemex

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.

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