CEMEX, S.A.B. de C.V. (NYSE:CX) Stake Reduced by Causeway Capital Management LLC

Causeway Capital Management LLC cut its holdings in CEMEX, S.A.B. de C.V. (NYSE:CXGet Rating) by 82.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 542,301 shares of the construction company’s stock after selling 2,593,728 shares during the quarter. Causeway Capital Management LLC’s holdings in CEMEX were worth $3,677,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Private Advisor Group LLC acquired a new stake in CEMEX during the 4th quarter worth about $98,000. Glovista Investments LLC acquired a new stake in CEMEX during the 4th quarter worth about $1,215,000. Pictet Asset Management SA raised its holdings in CEMEX by 6.7% during the 4th quarter. Pictet Asset Management SA now owns 87,536 shares of the construction company’s stock worth $593,000 after buying an additional 5,500 shares during the period. Citigroup Inc. raised its holdings in CEMEX by 20.2% during the 4th quarter. Citigroup Inc. now owns 729,546 shares of the construction company’s stock worth $4,947,000 after buying an additional 122,461 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in CEMEX during the 4th quarter worth about $255,000. Hedge funds and other institutional investors own 33.42% of the company’s stock.

CX has been the topic of several recent analyst reports. Credit Suisse Group upgraded CEMEX from a “neutral” rating to an “outperform” rating and set a $6.70 price objective on the stock in a report on Wednesday, April 20th. StockNews.com upgraded CEMEX from a “hold” rating to a “buy” rating in a report on Wednesday, April 20th. The Goldman Sachs Group cut CEMEX from a “buy” rating to a “neutral” rating and lowered their target price for the company from $9.20 to $6.00 in a research note on Monday, April 4th. Barclays lowered their target price on CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 26th. Finally, TheStreet cut CEMEX from a “b-” rating to a “c+” rating in a research note on Wednesday, April 27th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $8.68.

Shares of NYSE CX traded up $0.11 during trading hours on Tuesday, hitting $4.48. The stock had a trading volume of 467,454 shares, compared to its average volume of 7,054,375. The company has a market capitalization of $6.59 billion, a P/E ratio of 23.00, a P/E/G ratio of 0.57 and a beta of 1.35. The firm’s 50-day moving average price is $4.73 and its two-hundred day moving average price is $5.63. CEMEX, S.A.B. de C.V. has a 52 week low of $3.82 and a 52 week high of $9.09. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.55 and a current ratio of 0.79.

CEMEX Company Profile (Get Rating)

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 worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.

Further Reading

Institutional Ownership by Quarter for CEMEX (NYSE:CX)

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