Allspring Global Investments Holdings LLC Sells 881,818 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Allspring Global Investments Holdings LLC reduced its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,482,845 shares of the construction company's stock after selling 881,818 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.52% of CEMEX worth $57,992,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. HighTower Advisors LLC lifted its position in shares of CEMEX by 8.1% in the first quarter. HighTower Advisors LLC now owns 255,170 shares of the construction company's stock worth $1,349,000 after purchasing an additional 19,051 shares in the last quarter. Private Advisor Group LLC lifted its position in CEMEX by 164.4% in the 1st quarter. Private Advisor Group LLC now owns 38,153 shares of the construction company's stock worth $202,000 after buying an additional 23,725 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of CEMEX by 58.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,387 shares of the construction company's stock valued at $80,000 after buying an additional 5,676 shares during the period. Natixis Advisors L.P. grew its holdings in shares of CEMEX by 23.6% during the 1st quarter. Natixis Advisors L.P. now owns 278,056 shares of the construction company's stock valued at $1,471,000 after acquiring an additional 53,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of CEMEX by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,277,600 shares of the construction company's stock worth $43,789,000 after acquiring an additional 270,749 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

CX has been the subject of a number of analyst reports. Barclays cut shares of CEMEX from an "overweight" rating to an "equal weight" rating and set a $9.00 target price for the company. in a research note on Friday, February 9th. Bank of America upgraded shares of CEMEX from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $8.20 to $9.00 in a report on Tuesday, January 9th. Finally, StockNews.com lowered CEMEX from a "strong-buy" rating to a "buy" rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.37.

CEMEX Stock Performance

CEMEX stock traded up $0.17 on Thursday, hitting $8.75. The company's stock had a trading volume of 5,196,560 shares, compared to its average volume of 6,722,582. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $8.28 and a 200-day moving average price of $7.48. CEMEX, S.A.B. de C.V. has a one year low of $5.52 and a one year high of $9.27. The firm has a market cap of $12.68 billion, a P/E ratio of 72.92, a price-to-earnings-growth ratio of 0.16 and a beta of 1.47.

CEMEX (NYSE:CX - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The construction company reported ($0.30) EPS for the quarter. CEMEX had a net margin of 1.06% and a return on equity of 1.50%. The firm had revenue of $4.24 billion during the quarter. On average, equities analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.94 earnings per share for the current year.

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.