CEMEX, S.A.B. de C.V. (NYSE:CX) Short Interest Up 15.2% in May

CEMEX, S.A.B. de C.V. (NYSE:CX) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 7,940,000 shares, an increase of 15.2% from the May 15th total of 6,890,000 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average trading volume of 7,020,000 shares, the short-interest ratio is currently 1.1 days.

CEMEX Price Performance

Shares of CX stock opened at $6.50 on Tuesday. The stock has a 50 day moving average of $7.70 and a two-hundred day moving average of $7.89. The company has a current ratio of 0.78, a quick ratio of 0.51 and a debt-to-equity ratio of 0.54. CEMEX has a 12 month low of $5.67 and a 12 month high of $9.27. The company has a market capitalization of $9.42 billion, a P/E ratio of 46.43 and a beta of 1.47.

CEMEX (NYSE:CX) last posted its earnings results on Monday, April 29th. The construction company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $4.14 billion during the quarter. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. During the same quarter last year, the business earned $0.15 EPS. As a group, equities analysts expect that CEMEX will post 0.87 EPS for the current year.

CEMEX Dividend Announcement

The business also recently announced a Variable dividend, which will be paid on Wednesday, June 26th. Investors of record on Monday, June 17th will be given a dividend of $0.349 per share. The ex-dividend date is Monday, June 17th.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CX shares. Bank of America lowered CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 target price on the stock. in a report on Wednesday, April 24th. Royal Bank of Canada started coverage on CEMEX in a report on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 target price on the stock. The Goldman Sachs Group raised their target price on CEMEX from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, StockNews.com raised CEMEX from a “buy” rating to a “strong-buy” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.46.

Hedge Funds Weigh In On CEMEX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors raised its position in CEMEX by 0.5% in the 4th quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock valued at $217,024,000 after purchasing an additional 152,587 shares during the last quarter. Principal Financial Group Inc. raised its position in CEMEX by 7.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock valued at $161,462,000 after purchasing an additional 1,521,007 shares during the last quarter. Acadian Asset Management LLC raised its position in CEMEX by 41.4% in the 3rd quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company’s stock valued at $122,996,000 after purchasing an additional 5,542,723 shares during the last quarter. Schroder Investment Management Group raised its position in CEMEX by 17.6% in the 4th quarter. Schroder Investment Management Group now owns 9,840,263 shares of the construction company’s stock valued at $76,262,000 after purchasing an additional 1,471,407 shares during the last quarter. Finally, American Century Companies Inc. raised its position in CEMEX by 3.4% in the 3rd quarter. American Century Companies Inc. now owns 9,744,804 shares of the construction company’s stock valued at $63,341,000 after purchasing an additional 318,541 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

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.