Quantbot Technologies LP Lowers Stock Position in CEMEX, S.A.B. de C.V. (NYSE:CX)

Quantbot Technologies LP cut its position in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 29.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 298,185 shares of the construction company’s stock after selling 127,472 shares during the period. Quantbot Technologies LP’s holdings in CEMEX were worth $1,819,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in CEMEX by 4.1% during the first quarter. Vanguard Group Inc. now owns 3,757,831 shares of the construction company’s stock worth $33,858,000 after acquiring an additional 146,327 shares during the period. Pacer Advisors Inc. acquired a new position in CEMEX during the second quarter worth $776,000. GFS Advisors LLC raised its position in CEMEX by 1,505.0% during the third quarter. GFS Advisors LLC now owns 166,427 shares of the construction company’s stock worth $1,015,000 after acquiring an additional 156,058 shares during the period. Robeco Institutional Asset Management B.V. raised its position in CEMEX by 8.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock worth $60,327,000 after acquiring an additional 807,394 shares during the period. Finally, AQR Capital Management LLC raised its position in CEMEX by 28.4% during the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock worth $121,113,000 after acquiring an additional 4,217,562 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

CEMEX Trading Up 2.7 %

Shares of CX stock opened at $5.58 on Friday. 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 cap of $8.08 billion, a PE ratio of 18.10 and a beta of 1.49. The company has a 50-day moving average of $5.78 and a two-hundred day moving average of $6.29. CEMEX, S.A.B. de C.V. has a 1-year low of $5.00 and a 1-year high of $9.27.

CEMEX Cuts Dividend

The business also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were paid a dividend of $0.021 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, September 13th. CEMEX’s dividend payout ratio (DPR) is presently 13.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CX shares. Royal Bank of Canada reduced their target price on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 29th. Barclays reduced their target price on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. cut shares of CEMEX from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $6.00 in a research report on Tuesday, October 29th. Scotiabank cut their price objective on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research report on Tuesday, October 29th. Finally, StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CEMEX has a consensus rating of “Moderate Buy” and a consensus target price 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.