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

Wellington Management Group LLP lessened its position in CEMEX, S.A.B. de C.V. (NYSE:CX) by 8.5% during the third quarter, Holdings Channel reports. The institutional investor owned 1,695,160 shares of the construction company’s stock after selling 157,708 shares during the quarter. Wellington Management Group LLP’s holdings in CEMEX were worth $10,340,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of CEMEX in the second quarter valued at approximately $33,000. Allworth Financial LP grew its position in CEMEX by 36.0% in the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,747 shares in the last quarter. Aureus Asset Management LLC acquired a new stake in CEMEX in the 3rd quarter valued at $70,000. Vontobel Holding Ltd. bought a new stake in CEMEX during the 3rd quarter worth about $77,000. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of CEMEX during the 2nd quarter worth about $81,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

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

CEMEX Price Performance

Shares of CX opened at $5.60 on Monday. The company’s 50-day moving average is $5.67 and its 200-day moving average is $6.11. 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 capitalization of $8.11 billion, a PE ratio of 18.67 and a beta of 1.50. CEMEX, S.A.B. de C.V. has a fifty-two week low of $5.00 and a fifty-two week high of $9.27.

CEMEX Dividend Announcement

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

CEMEX 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.