Channing Global Advisors LLC Cuts Stock Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

Channing Global Advisors LLC cut its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX - Free Report) by 82.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,402 shares of the construction company's stock after selling 120,530 shares during the quarter. Channing Global Advisors LLC's holdings in CEMEX were worth $205,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in CEMEX by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 19,312,861 shares of the construction company's stock worth $125,534,000 after acquiring an additional 61,954 shares in the last quarter. Acadian Asset Management LLC boosted its position in CEMEX by 41.4% during the 3rd quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company's stock valued at $122,996,000 after acquiring an additional 5,542,723 shares in the last quarter. American Century Companies Inc. raised its position in shares of CEMEX by 3.4% in the 3rd quarter. American Century Companies Inc. now owns 9,744,804 shares of the construction company's stock worth $63,341,000 after acquiring an additional 318,541 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of CEMEX by 35.5% during the 3rd quarter. AQR Capital Management LLC now owns 9,684,043 shares of the construction company's stock worth $62,946,000 after purchasing an additional 2,535,112 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in CEMEX by 4.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 8,764,242 shares of the construction company's stock valued at $56,968,000 after purchasing an additional 373,246 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com raised shares of CEMEX from a "buy" rating to a "strong-buy" rating in a research report on Friday. Bank of America cut shares of CEMEX from a "buy" rating to a "neutral" rating and set a $9.00 target price for the company. in a research report on Wednesday. The Goldman Sachs Group lifted their price target on shares of CEMEX from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday. Finally, Barclays downgraded CEMEX from an "overweight" rating to an "equal weight" rating and set a $9.00 price target on the stock. in a research report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CEMEX has a consensus rating of "Moderate Buy" and an average price target of $9.53.

CEMEX Stock Performance

CEMEX stock traded up $0.09 during mid-day trading on Friday, reaching $8.27. 4,029,580 shares of the company traded hands, compared to its average volume of 6,687,606. The firm's fifty day moving average is $8.31 and its two-hundred day moving average is $7.61. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 68.92, a price-to-earnings-growth ratio of 0.16 and a beta of 1.47. CEMEX, S.A.B. de C.V. has a fifty-two week low of $5.67 and a fifty-two week high of $9.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.74 and a quick ratio of 0.47.

CEMEX (NYSE:CX - Get Free Report) last released its earnings results on Thursday, February 8th. The construction company reported ($0.30) earnings per share (EPS) for the quarter. The firm had revenue of $4.24 billion during the quarter. CEMEX had a net margin of 1.06% and a return on equity of 1.50%. On average, equities research analysts expect that CEMEX, S.A.B. de C.V. will post 0.88 earnings per share for the current fiscal year.

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.