CEMEX, S.A.B. de C.V. (NYSE:CX – Get Free Report) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 9,920,000 shares, an increase of 47.6% from the October 15th total of 6,720,000 shares. Based on an average trading volume of 12,060,000 shares, the short-interest ratio is currently 0.8 days. Approximately 0.7% of the company’s shares are short sold.
Institutional Investors Weigh In On CEMEX
Institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. acquired a new position in shares of CEMEX in the 1st quarter valued at $114,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in CEMEX by 2.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 132,972 shares of the construction company’s stock valued at $1,198,000 after buying an additional 3,200 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of CEMEX by 3.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 744,072 shares of the construction company’s stock valued at $6,746,000 after purchasing an additional 22,790 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of CEMEX by 4.1% in the first quarter. Vanguard Group Inc. now owns 3,757,831 shares of the construction company’s stock worth $33,858,000 after buying an additional 146,327 shares during the period. Finally, Seven Eight Capital LP grew its position in CEMEX by 227.7% during the 1st quarter. Seven Eight Capital LP now owns 126,909 shares of the construction company’s stock worth $1,143,000 after purchasing an additional 88,184 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.
CEMEX Stock Up 2.6 %
Shares of CX stock traded up $0.14 on Friday, reaching $5.47. 9,724,844 shares of the stock were exchanged, compared to its average volume of 8,836,311. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. CEMEX has a twelve month low of $5.00 and a twelve month high of $9.27. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 18.25 and a beta of 1.49. The business’s 50 day moving average price is $5.87 and its 200 day moving average price is $6.44.
CEMEX Cuts Dividend
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reduced their price target on CEMEX from $6.50 to $6.00 and set a “sector perform” 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. Barclays lowered their target price on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Scotiabank cut their price objective on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. downgraded CEMEX from an “overweight” rating to a “neutral” rating and cut their target price for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.82.
Check Out Our Latest Report on CX
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.
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