CEMEX (NYSE:CX) Hits New 1-Year Low – Should You Sell?

CEMEX, S.A.B. de C.V. (NYSE:CX)’s stock price reached a new 52-week low on Monday . The stock traded as low as $5.16 and last traded at $5.18, with a volume of 6053674 shares traded. The stock had previously closed at $5.18.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays decreased 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. Royal Bank of Canada decreased their price objective on CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $6.00 in a report on Tuesday, October 29th. The Goldman Sachs Group assumed coverage on CEMEX in a research report on Wednesday, July 10th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, Scotiabank reduced their price target on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $7.82.

CEMEX Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.65 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average price of $5.96 and a 200 day moving average price of $6.60. The firm has a market cap of $7.49 billion, a PE ratio of 17.27 and a beta of 1.50.

CEMEX Cuts Dividend

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

Institutional Trading of CEMEX

Hedge funds and other institutional investors have recently modified their holdings of the business. Norden Group LLC acquired a new position in CEMEX during the first quarter worth $654,000. BNP Paribas Financial Markets boosted its stake in shares of CEMEX by 25.9% in the first quarter. BNP Paribas Financial Markets now owns 1,296,403 shares of the construction company’s stock valued at $11,681,000 after purchasing an additional 267,074 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of CEMEX in the first quarter valued at approximately $460,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in CEMEX during the 1st quarter worth approximately $866,000. Finally, Lesa Sroufe & Co boosted its position in CEMEX by 0.4% in the 1st quarter. Lesa Sroufe & Co now owns 400,951 shares of the construction company’s stock valued at $3,613,000 after buying an additional 1,731 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.