RWC Asset Management LLP Sells 73,268 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

RWC Asset Management LLP cut its holdings in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,573,990 shares of the construction company’s stock after selling 73,268 shares during the period. CEMEX accounts for approximately 1.7% of RWC Asset Management LLP’s portfolio, making the stock its 20th biggest position. RWC Asset Management LLP’s holdings in CEMEX were worth $27,698,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of CEMEX in the 4th quarter valued at about $26,000. Blue Trust Inc. increased its position in shares of CEMEX by 65.0% in the fourth quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock valued at $41,000 after acquiring an additional 2,062 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of CEMEX by 40.6% in the third quarter. PNC Financial Services Group Inc. now owns 8,501 shares of the construction company’s stock valued at $55,000 after acquiring an additional 2,454 shares during the last quarter. MQS Management LLC acquired a new stake in shares of CEMEX in the third quarter valued at about $70,000. Finally, Euro Pacific Asset Management LLC acquired a new stake in shares of CEMEX in the third quarter valued at about $72,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on CX shares. Barclays downgraded CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 target price on the stock. in a research report on Friday, February 9th. Bank of America downgraded CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Wednesday. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, The Goldman Sachs Group boosted their price objective on CEMEX from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.53.

CEMEX Price Performance

Shares of CX stock traded up $0.09 during trading on Friday, hitting $8.27. The company had a trading volume of 4,029,583 shares, compared to its average volume of 6,985,070. The stock’s 50-day moving average price is $8.32 and its 200 day moving average price is $7.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.74. CEMEX, S.A.B. de C.V. has a one year low of $5.67 and a one year high of $9.27. The firm has a market capitalization of $11.98 billion, a P/E ratio of 59.07, a price-to-earnings-growth ratio of 0.17 and a beta of 1.47.

CEMEX (NYSE:CX) last released its earnings results on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. CEMEX had a return on equity of 1.81% and a net margin of 1.28%. The business had revenue of $4.24 billion for the quarter. Equities analysts expect that CEMEX, S.A.B. de C.V. will post 0.88 EPS for the current fiscal 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.