Russell Investments Group Ltd. Reduces Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Russell Investments Group Ltd. lessened its holdings in CEMEX, S.A.B. de C.V. (NYSE:CX) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,401,412 shares of the construction company’s stock after selling 415,953 shares during the period. Russell Investments Group Ltd.’s holdings in CEMEX were worth $42,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Headlands Technologies LLC grew its holdings in shares of CEMEX by 1,301.3% in the fourth quarter. Headlands Technologies LLC now owns 11,631 shares of the construction company’s stock worth $90,000 after purchasing an additional 10,801 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in CEMEX by 2.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 177,558 shares of the construction company’s stock valued at $1,376,000 after buying an additional 3,512 shares during the period. Wynn Capital LLC bought a new position in CEMEX in the 4th quarter worth about $186,000. Moneda S.A. Administradora General de Fondos purchased a new position in shares of CEMEX during the fourth quarter worth approximately $8,232,000. Finally, Mackenzie Financial Corp bought a new stake in shares of CEMEX during the fourth quarter valued at approximately $6,756,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Stock Performance

Shares of CX stock opened at $8.11 on Tuesday. The business has a fifty day moving average of $8.33 and a 200 day moving average of $7.66. CEMEX, S.A.B. de C.V. has a 1 year low of $5.67 and a 1 year high of $9.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.78 and a quick ratio of 0.51. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of 57.89, a price-to-earnings-growth ratio of 0.17 and a beta of 1.47.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. CEMEX had a net margin of 1.28% and a return on equity of 1.82%. The firm had revenue of $4.24 billion during the quarter. As a group, research analysts expect that CEMEX, S.A.B. de C.V. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CX has been the topic of several research analyst reports. StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a research note on Friday. 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, April 24th. Barclays downgraded CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective for the company. in a report on Friday, February 9th. Finally, The Goldman Sachs Group increased their target price on shares of CEMEX from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.53.

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.