Schroder Investment Management Group Sells 20,751,587 Shares of Cemex SAB de CV (CX)

Schroder Investment Management Group reduced its stake in Cemex SAB de CV (NYSE:CX) by 97.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 570,658 shares of the construction company’s stock after selling 20,751,587 shares during the quarter. Schroder Investment Management Group’s holdings in Cemex SAB de CV were worth $3,749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Cemex SAB de CV by 67.0% during the second quarter. BlackRock Inc. now owns 22,620,760 shares of the construction company’s stock valued at $148,391,000 after acquiring an additional 9,078,815 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of Cemex SAB de CV by 9.8% during the second quarter. Brandes Investment Partners LP now owns 53,750,845 shares of the construction company’s stock valued at $353,342,000 after acquiring an additional 4,805,568 shares in the last quarter. Investec Asset Management PTY Ltd acquired a new stake in shares of Cemex SAB de CV during the second quarter valued at about $10,164,000. Canada Pension Plan Investment Board acquired a new stake in shares of Cemex SAB de CV during the second quarter valued at about $4,743,000. Finally, Millennium Management LLC grew its stake in shares of Cemex SAB de CV by 36.9% during the second quarter. Millennium Management LLC now owns 1,999,709 shares of the construction company’s stock valued at $13,118,000 after acquiring an additional 539,170 shares in the last quarter. Hedge funds and other institutional investors own 33.21% of the company’s stock.

Shares of CX stock opened at $5.90 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.84. Cemex SAB de CV has a one year low of $5.72 and a one year high of $8.51. The stock has a market cap of $8.56 billion, a PE ratio of 15.03, a P/E/G ratio of 0.63 and a beta of 1.37.

Cemex SAB de CV (NYSE:CX) last issued its earnings results on Thursday, July 26th. The construction company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.09. Cemex SAB de CV had a net margin of 4.23% and a return on equity of 5.46%. The firm had revenue of $3.80 billion for the quarter. As a group, analysts anticipate that Cemex SAB de CV will post 0.55 EPS for the current year.

Several equities analysts have recently commented on the stock. BNP Paribas cut shares of Cemex SAB de CV from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 31st. Exane BNP Paribas cut shares of Cemex SAB de CV from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of Cemex SAB de CV from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. HSBC cut shares of Cemex SAB de CV from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a research report on Thursday, August 16th. Finally, Citigroup set a $10.00 price target on shares of Cemex SAB de CV and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Cemex SAB de CV presently has an average rating of “Hold” and an average target price of $9.14.

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: Stock Symbols and CUSIP 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).

Institutional Ownership by Quarter for Cemex SAB de CV (NYSE:CX)

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