CEMEX, S.A.B. de C.V. (NYSE:CX) Short Interest Up 9.3% in November

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

Institutional Trading of CEMEX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of CEMEX in the second quarter valued at $33,000. Barclays PLC lifted its position in CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after buying an additional 1,843 shares in the last quarter. Allworth Financial LP boosted its stake in shares of CEMEX by 36.0% during the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock valued at $40,000 after buying an additional 1,747 shares during the period. Aureus Asset Management LLC acquired a new position in shares of CEMEX in the third quarter worth $70,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of CEMEX during the third quarter worth $77,000. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CX. Scotiabank lowered their price target 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. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Royal Bank of Canada downgraded CEMEX from a “sector perform” rating to an “underperform” rating and cut their price objective for the stock from $6.00 to $5.00 in a research report on Wednesday, December 11th. Barclays lowered their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $6.00 in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.65.

CEMEX Stock Performance

NYSE CX traded down $0.05 during trading hours on Tuesday, reaching $5.55. The company’s stock had a trading volume of 423,114 shares, compared to its average volume of 8,735,327. The stock has a market cap of $8.04 billion, a PE ratio of 18.67 and a beta of 1.50. The business has a 50-day simple moving average of $5.67 and a 200 day simple moving average of $6.10. CEMEX has a 52 week low of $5.00 and a 52 week high of $9.27. 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 Announces Dividend

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

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.