CEMEX, S.A.B. de C.V. (NYSE:CX) Short Interest Update

CEMEX, S.A.B. de C.V. (NYSE:CX) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 7,970,000 shares, an increase of 9.3% from the November 15th total of 7,290,000 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 10,510,000 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank of Canada downgraded shares of CEMEX from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $6.00 to $5.00 in a research note on Wednesday, December 11th. StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and lowered 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 shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. Finally, Barclays lowered their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.65.

Institutional Trading of CEMEX

Institutional investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC acquired a new stake in CEMEX during the 2nd quarter valued at approximately $33,000. Barclays PLC boosted its stake in shares of CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after purchasing an additional 1,843 shares during the last quarter. Allworth Financial LP increased its position in shares of CEMEX by 36.0% during the third quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after buying an additional 1,747 shares during the period. Aureus Asset Management LLC bought a new position in CEMEX during the third quarter worth $70,000. Finally, Vontobel Holding Ltd. bought a new position in shares of CEMEX in the 3rd quarter worth about $77,000. Institutional investors own 82.97% of the company’s stock.

CEMEX Stock Performance

Shares of CEMEX stock opened at $5.60 on Tuesday. The company’s 50 day moving average price is $5.67 and its two-hundred day moving average price is $6.10. The firm has a market capitalization of $8.11 billion, a P/E ratio of 18.67 and a beta of 1.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.73. CEMEX has a fifty-two week low of $5.00 and a fifty-two week high of $9.27.

CEMEX Dividend Announcement

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

About CEMEX

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.