Wetherby Asset Management Inc. Sells 11,481 Shares of Cemex SAB de CV (NYSE:CX)

Wetherby Asset Management Inc. cut its holdings in shares of Cemex SAB de CV (NYSE:CX) by 28.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,540 shares of the construction company’s stock after selling 11,481 shares during the period. Wetherby Asset Management Inc.’s holdings in Cemex SAB de CV were worth $126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CX. Altfest L J & Co. Inc. lifted its holdings in Cemex SAB de CV by 4.5% during the 2nd quarter. Altfest L J & Co. Inc. now owns 66,859 shares of the construction company’s stock worth $283,000 after buying an additional 2,902 shares in the last quarter. First Republic Investment Management Inc. lifted its holdings in Cemex SAB de CV by 5.4% during the 1st quarter. First Republic Investment Management Inc. now owns 66,530 shares of the construction company’s stock worth $309,000 after buying an additional 3,396 shares in the last quarter. Holistic Financial Partners lifted its holdings in Cemex SAB de CV by 14.2% during the 1st quarter. Holistic Financial Partners now owns 44,473 shares of the construction company’s stock worth $206,000 after buying an additional 5,539 shares in the last quarter. Covenant Multifamily Offices LLC acquired a new position in Cemex SAB de CV during the 1st quarter worth $29,000. Finally, Bluestein R H & Co. lifted its holdings in Cemex SAB de CV by 16.7% during the 1st quarter. Bluestein R H & Co. now owns 70,000 shares of the construction company’s stock worth $325,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 32.28% of the company’s stock.

Shares of CX stock traded down $0.02 during trading hours on Friday, reaching $3.16. The company had a trading volume of 7,067,246 shares, compared to its average volume of 9,512,085. The firm’s 50 day simple moving average is $3.85. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.53 and a current ratio of 0.74. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 0.59 and a beta of 1.47. Cemex SAB de CV has a 1-year low of $2.95 and a 1-year high of $7.45.

Several research analysts have issued reports on the company. ValuEngine raised Cemex SAB de CV from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised Cemex SAB de CV from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. HSBC raised Cemex SAB de CV from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Santander downgraded Cemex SAB de CV from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Morgan Stanley downgraded Cemex SAB de CV from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $8.00 to $5.50 in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $7.50.

Cemex SAB de CV Profile

CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

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Institutional Ownership by Quarter for Cemex SAB de CV (NYSE:CX)

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