Wellington Management Group LLP Sells 157,708 Shares of CEMEX, S.A.B. de C.V. (NYSE:CX)

Wellington Management Group LLP trimmed its stake in shares of CEMEX, S.A.B. de C.V. (NYSE:CX) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,695,160 shares of the construction company’s stock after selling 157,708 shares during the period. Wellington Management Group LLP owned approximately 0.12% of CEMEX worth $10,340,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CX. Pacer Advisors Inc. bought a new position in CEMEX in the second quarter valued at about $776,000. GFS Advisors LLC boosted its stake in shares of CEMEX by 1,505.0% in the 3rd quarter. GFS Advisors LLC now owns 166,427 shares of the construction company’s stock valued at $1,015,000 after purchasing an additional 156,058 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of CEMEX by 8.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock valued at $60,327,000 after purchasing an additional 807,394 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of CEMEX by 63.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 5,397,977 shares of the construction company’s stock worth $32,927,000 after buying an additional 2,090,688 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of 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 buying an additional 4,217,562 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

CEMEX Trading Up 0.4 %

NYSE CX opened at $5.60 on Monday. CEMEX, S.A.B. de C.V. has a one year low of $5.00 and a one year high of $9.27. 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 $8.11 billion, a P/E ratio of 18.67 and a beta of 1.50. The stock’s 50-day moving average is $5.67 and its 200-day moving average is $6.11.

CEMEX Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th will be paid a $0.0207 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. CEMEX’s payout ratio is currently 20.00%.

Wall Street Analyst Weigh In

CX has been the subject of a number of analyst reports. Royal Bank of Canada lowered shares of CEMEX from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from $6.00 to $5.00 in a report on Wednesday, December 11th. JPMorgan Chase & Co. downgraded CEMEX from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $6.00 in a report on Tuesday, October 29th. Scotiabank reduced their target price on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. StockNews.com lowered CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Finally, Barclays cut their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.65.

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.