World Asset Management Inc trimmed its position in shares of Cemex SAB de CV (NYSE:CX) by 40.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,040 shares of the construction company’s stock after selling 15,021 shares during the quarter. World Asset Management Inc’s holdings in Cemex SAB de CV were worth $106,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Personal Resources Investment & Strategic Management Inc. purchased a new stake in Cemex SAB de CV in the 4th quarter valued at $57,000. Fox Run Management L.L.C. purchased a new stake in Cemex SAB de CV in the 4th quarter valued at $58,000. B. Riley Wealth Management Inc. purchased a new stake in Cemex SAB de CV in the 3rd quarter valued at $74,000. Federated Investors Inc. PA purchased a new stake in Cemex SAB de CV in the 3rd quarter valued at $107,000. Finally, Moody National Bank Trust Division purchased a new stake in Cemex SAB de CV in the 3rd quarter valued at $123,000. 34.03% of the stock is currently owned by institutional investors.
CX has been the subject of a number of analyst reports. Zacks Investment Research lowered Cemex SAB de CV from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. UBS Group lowered Cemex SAB de CV from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 14th. Scotiabank lowered Cemex SAB de CV from an “outperform” rating to a “sector perform” rating in a research report on Monday, October 29th. Barclays set a $7.00 price target on Cemex SAB de CV and gave the company a “buy” rating in a research report on Wednesday, January 23rd. Finally, ValuEngine raised Cemex SAB de CV from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Cemex SAB de CV currently has a consensus rating of “Hold” and an average price target of $8.71.
Cemex SAB de CV (NYSE:CX) last announced its quarterly earnings data on Thursday, February 7th. The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.12). The business had revenue of $3.45 billion during the quarter. Cemex SAB de CV had a net margin of 3.84% and a return on equity of 4.86%. On average, equities analysts forecast that Cemex SAB de CV will post 0.58 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece was reported by Markets Daily and is the property of of Markets Daily. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.themarketsdaily.com/2019/02/09/world-asset-management-inc-lowers-stake-in-cemex-sab-de-cv-cx.html.
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.
Read More: Leveraged Buyout (LBO) Explained
Want to see what other hedge funds are holding CX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cemex SAB de CV (NYSE:CX).
Receive News & Ratings for Cemex SAB de CV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cemex SAB de CV and related companies with MarketBeat.com's FREE daily email newsletter.