Cemex S.A.B. de C.V. $CX Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Cemex S.A.B. de C.V. (NYSE:CX) by 45.2% in the 2nd quarter, Holdings Channel reports. The fund owned 2,449,271 shares of the construction company’s stock after selling 2,024,087 shares during the period. JPMorgan Chase & Co.’s holdings in Cemex were worth $16,973,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CX. Farther Finance Advisors LLC boosted its holdings in Cemex by 63.7% in the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after purchasing an additional 2,027 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Cemex by 334.7% during the 1st quarter. Jones Financial Companies Lllp now owns 9,189 shares of the construction company’s stock worth $52,000 after purchasing an additional 7,075 shares during the last quarter. Parallax Volatility Advisers L.P. acquired a new position in shares of Cemex in the 1st quarter valued at approximately $60,000. Inspire Investing LLC purchased a new position in shares of Cemex during the 2nd quarter valued at approximately $70,000. Finally, Atria Investments Inc acquired a new stake in shares of Cemex during the second quarter worth approximately $79,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Cemex Price Performance

Shares of NYSE:CX opened at $10.85 on Friday. The company has a market cap of $15.72 billion, a PE ratio of 11.67, a P/E/G ratio of 1.25 and a beta of 1.61. Cemex S.A.B. de C.V. has a fifty-two week low of $4.89 and a fifty-two week high of $11.05. The firm has a 50-day simple moving average of $9.90 and a 200 day simple moving average of $8.66. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.37.

Cemex (NYSE:CX) last issued its earnings results on Tuesday, October 28th. The construction company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $226.73 million. Cemex had a return on equity of 6.85% and a net margin of 8.62%. On average, sell-side analysts anticipate that Cemex S.A.B. de C.V. will post 0.69 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CX. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a report on Tuesday, November 4th. Scotiabank downgraded shares of Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 target price for the company. in a research report on Tuesday, October 21st. The Goldman Sachs Group upped their target price on shares of Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Royal Bank Of Canada lifted their price target on Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cemex in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cemex currently has a consensus rating of “Hold” and a consensus target price of $10.14.

Cemex Company 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.