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

Channing Global Advisors LLC cut its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 82.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,402 shares of the construction company’s stock after selling 120,530 shares during the period. Channing Global Advisors LLC’s holdings in CEMEX were worth $205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CX. Acadian Asset Management LLC lifted its holdings in shares of CEMEX by 41.4% during the 3rd quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company’s stock worth $122,996,000 after acquiring an additional 5,542,723 shares during the period. AQR Capital Management LLC increased its position in 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 in the last quarter. Sei Investments Co. increased its position in CEMEX by 146.8% during the 3rd quarter. Sei Investments Co. now owns 3,010,503 shares of the construction company’s stock worth $19,568,000 after purchasing an additional 1,790,588 shares in the last quarter. Qube Research & Technologies Ltd increased its position in CEMEX by 701.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,848,325 shares of the construction company’s stock worth $12,014,000 after purchasing an additional 1,617,750 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in CEMEX during the 3rd quarter worth approximately $8,883,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CX shares. Barclays downgraded 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 report on Friday, February 9th. Bank of America downgraded 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. Finally, StockNews.com downgraded shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, CEMEX has a consensus rating of “Moderate Buy” and an average price target of $9.37.

CEMEX Stock Performance

CX traded up $0.07 during trading hours on Friday, hitting $8.25. 1,456,041 shares of the stock were exchanged, compared to its average volume of 6,655,595. The stock has a 50-day simple moving average of $8.31 and a 200-day simple moving average of $7.61. CEMEX, S.A.B. de C.V. has a 12 month low of $5.67 and a 12 month high of $9.27. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 68.75, a price-to-earnings-growth ratio of 0.16 and a beta of 1.47. 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) last posted its earnings results on Thursday, February 8th. The construction company reported ($0.30) earnings per share (EPS) for the quarter. The company 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%. Analysts anticipate that CEMEX, S.A.B. de C.V. will post 0.88 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.