CEMEX (NYSE:CX) Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of CEMEX (NYSE:CX) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat reports. The firm currently has $6.00 price objective on the construction company’s stock, down from their previous price objective of $7.00.

CX has been the topic of a number of other reports. The Goldman Sachs Group assumed coverage on shares of CEMEX in a report on Wednesday, July 10th. They set a “buy” rating and a $9.00 target price on the stock. StockNews.com cut shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada raised CEMEX from an “underperform” rating to a “sector perform” rating and lowered their target price for the company from $9.00 to $6.50 in a report on Tuesday, October 8th. Finally, Barclays raised CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.87.

CEMEX Stock Down 3.8 %

Shares of CEMEX stock opened at $5.25 on Tuesday. The business has a 50-day moving average price of $6.06 and a 200 day moving average price of $6.69. CEMEX has a fifty-two week low of $5.21 and a fifty-two week high of $9.27. The firm has a market cap of $7.61 billion, a P/E ratio of 37.50 and a beta of 1.47. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 0.53.

CEMEX Cuts Dividend

The firm also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were given a dividend of $0.021 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 0.7%. CEMEX’s dividend payout ratio (DPR) is presently 28.57%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in CEMEX by 0.6% in the second quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock worth $127,697,000 after purchasing an additional 112,479 shares during the period. AQR Capital Management LLC lifted its holdings in CEMEX by 28.4% in the second 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 lifted its holdings in CEMEX by 32.3% in the second quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock worth $99,398,000 after purchasing an additional 3,796,262 shares during the period. Perpetual Ltd lifted its holdings in CEMEX by 12.6% in the third quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company’s stock worth $61,089,000 after purchasing an additional 1,117,379 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in CEMEX by 8.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock worth $60,327,000 after purchasing an additional 807,394 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

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.