CEMEX (NYSE:CX) Trading Up 4.2% – Here’s What Happened

CEMEX, S.A.B. de C.V. (NYSE:CX) shares shot up 4.2% on Tuesday . The stock traded as high as $6.30 and last traded at $6.32. 3,967,988 shares traded hands during trading, a decline of 59% from the average session volume of 9,585,225 shares. The stock had previously closed at $6.06.

Analyst Ratings Changes

CX has been the topic of several research analyst reports. Morgan Stanley lowered CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Royal Bank of Canada lifted their target price on shares of CEMEX from $5.00 to $6.00 and gave the stock an “underperform” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.82.

CEMEX Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.58 and a current ratio of 0.82. The company has a market capitalization of $8.75 billion, a PE ratio of 9.58 and a beta of 1.45. The business has a fifty day moving average price of $6.15 and a 200 day moving average price of $5.89.

CEMEX (NYSE:CX) last announced its quarterly earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. Analysts expect that CEMEX, S.A.B. de C.V. will post 0.69 EPS for the current fiscal year.

CEMEX Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 10th were paid a dividend of $0.0207 per share. The ex-dividend date of this dividend was Monday, March 10th. CEMEX’s dividend payout ratio is currently 12.70%.

Institutional Trading of CEMEX

A number of hedge funds and other institutional investors have recently modified their holdings of CX. IFP Advisors Inc increased its position in shares of CEMEX by 159.1% in the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after purchasing an additional 3,062 shares during the last quarter. Barclays PLC grew its stake in CEMEX by 41.8% in the third quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after purchasing an additional 1,843 shares in the last quarter. Townsquare Capital LLC bought a new stake in CEMEX in the fourth quarter valued at about $57,000. Dark Forest Capital Management LP acquired a new stake in CEMEX during the fourth quarter valued at approximately $59,000. Finally, Raiffeisen Bank International AG bought a new position in CEMEX during the 4th quarter worth approximately $59,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.