National Bank of Canada FI Has $1.22 Million Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

National Bank of Canada FI decreased its stake in CEMEX, S.A.B. de C.V. (NYSE:CX) by 78.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,355 shares of the construction company’s stock after selling 708,845 shares during the period. National Bank of Canada FI’s holdings in CEMEX were worth $1,216,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in CEMEX in the 2nd quarter valued at about $33,000. Allworth Financial LP boosted its holdings in shares of CEMEX by 36.0% during the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after buying an additional 1,747 shares during the period. Aureus Asset Management LLC acquired a new position in CEMEX in the 3rd quarter valued at about $70,000. Vontobel Holding Ltd. acquired a new position in CEMEX in the 3rd quarter valued at about $77,000. Finally, Thoroughbred Financial Services LLC bought a new position in CEMEX in the 2nd quarter valued at about $81,000. Institutional investors own 82.97% of the company’s stock.

CEMEX Stock Up 0.4 %

Shares of NYSE CX opened at $5.60 on Friday. The stock has a market capitalization of $8.11 billion, a P/E ratio of 18.67 and a beta of 1.50. The stock’s fifty day moving average is $5.67 and its 200 day moving average is $6.12. CEMEX, S.A.B. de C.V. has a 52 week low of $5.00 and a 52 week high of $9.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98.

CEMEX Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th will be issued a $0.0207 dividend. The ex-dividend date is Tuesday, December 10th. CEMEX’s dividend payout ratio is currently 20.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CX shares. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Barclays reduced their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut CEMEX from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $6.00 in a research report on Tuesday, October 29th. Royal Bank of Canada cut shares of CEMEX from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $6.00 to $5.00 in a research report on Wednesday. Finally, Scotiabank lowered their price target on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.65.

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.