CEMEX, S.A.B. de C.V. (NYSE:CX) Sees Significant Growth in Short Interest

CEMEX, S.A.B. de C.V. (NYSE:CX) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 9,920,000 shares, a growth of 47.6% from the October 15th total of 6,720,000 shares. Based on an average daily 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 sold short.

Analyst Upgrades and Downgrades

CX has been the topic of a number of research reports. Royal Bank of Canada cut 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. Scotiabank lowered their price target on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research report on Tuesday, October 29th. 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 CEMEX from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Finally, Barclays reduced their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.82.

Hedge Funds Weigh In On CEMEX

Several large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of CEMEX in the 3rd quarter worth approximately $190,346,000. AQR Capital Management LLC raised its holdings in shares of CEMEX by 28.4% in the 2nd quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock worth $121,113,000 after purchasing an additional 4,217,562 shares during the period. RWC Asset Advisors US LLC grew its stake in CEMEX by 32.3% in the 2nd quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock valued at $99,398,000 after buying an additional 3,796,262 shares in the last quarter. BNP Paribas Financial Markets grew its stake in CEMEX by 166.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,077,576 shares of the construction company’s stock valued at $24,873,000 after buying an additional 2,549,852 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in CEMEX by 63.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 5,397,977 shares of the construction company’s stock valued at $32,927,000 after buying an additional 2,090,688 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

CEMEX Trading Up 2.6 %

CEMEX stock traded up $0.14 during trading hours on Friday, reaching $5.47. 9,724,844 shares of the company’s stock were exchanged, compared to its average volume of 8,836,311. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The firm’s 50 day simple moving average is $5.87 and its 200 day simple moving average is $6.44. CEMEX has a twelve month low of $5.00 and a twelve month high of $9.27. The firm has a market capitalization of $7.93 billion, a PE ratio of 18.25 and a beta of 1.49.

CEMEX Cuts Dividend

The company also recently announced a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were paid a $0.021 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX’s dividend payout ratio is presently 13.33%.

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.