CEMEX (NYSE:CX) Lowered to “Neutral” Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of CEMEX (NYSE:CX) from an overweight rating to a neutral rating in a research note released on Tuesday, MarketBeat.com reports. They currently have $6.00 price objective on the construction company’s stock, down from their prior price objective of $7.00.

CX has been the subject of a number of other research reports. The Goldman Sachs Group began coverage on CEMEX in a research note on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price target for the company. Barclays upgraded shares of CEMEX from an “equal weight” rating to an “overweight” rating and set a $9.00 target price for the company in a research report on Wednesday, July 31st. StockNews.com downgraded shares of CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada raised shares of CEMEX from an “underperform” rating to a “sector perform” rating and decreased their price objective for the company from $9.00 to $6.50 in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.87.

CEMEX Price Performance

Shares of NYSE CX opened at $5.19 on Tuesday. The business has a fifty day moving average price of $5.99 and a two-hundred day moving average price of $6.64. The stock has a market capitalization of $7.51 billion, a PE ratio of 17.28 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.65. CEMEX has a fifty-two week low of $5.17 and a fifty-two week high of $9.27.

CEMEX Cuts Dividend

The business also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were issued a dividend of $0.021 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, September 13th. CEMEX’s dividend payout ratio (DPR) is presently 13.33%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in shares of CEMEX by 54.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,124 shares of the construction company’s stock valued at $102,000 after purchasing an additional 4,623 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in CEMEX during the 1st quarter worth approximately $102,000. Claro Advisors LLC grew its holdings in CEMEX by 6.9% during the 1st quarter. Claro Advisors LLC now owns 30,842 shares of the construction company’s stock worth $278,000 after acquiring an additional 1,998 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in CEMEX by 1.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,577,635 shares of the construction company’s stock valued at $68,274,000 after acquiring an additional 94,790 shares during the period. Finally, Norden Group LLC bought a new position in shares of CEMEX during the first quarter valued at $654,000. 82.97% of the stock is currently 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.