Itau Unibanco Holding S.A. Cuts Stock Holdings in CEMEX, S.A.B. de C.V. (NYSE:CX)

Itau Unibanco Holding S.A. reduced its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 66.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,195,470 shares of the construction company’s stock after selling 6,212,077 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in CEMEX were worth $19,492,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in CEMEX in the second quarter worth about $33,000. Allworth Financial LP grew its holdings in shares of CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,747 shares during the last quarter. Aureus Asset Management LLC acquired a new position in CEMEX in the third quarter valued at about $70,000. Vontobel Holding Ltd. bought a new position in shares of CEMEX during the third quarter worth about $77,000. Finally, Thoroughbred Financial Services LLC bought a new position in shares of CEMEX during the 2nd quarter worth approximately $81,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Price Performance

Shares of NYSE:CX opened at $5.69 on Tuesday. The business’s 50 day simple moving average is $5.75 and its 200-day simple moving average is $6.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 18.97 and a beta of 1.50. CEMEX, S.A.B. de C.V. has a 12 month low of $5.00 and a 12 month high of $9.27.

Analyst Ratings Changes

Several research analysts have commented on CX shares. Royal Bank of Canada dropped their price objective on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Tuesday, October 29th. Barclays dropped their price objective on shares of 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 dropped their price objective for the stock from $7.00 to $6.00 in a research note on Tuesday, October 29th. Scotiabank reduced their price target on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Finally, StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.82.

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.