CEMEX, S.A.B. de C.V. (NYSE:CX) Short Interest Up 9.3% in November

CEMEX, S.A.B. de C.V. (NYSE:CX) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 7,970,000 shares, an increase of 9.3% from the November 15th total of 7,290,000 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 10,510,000 shares, the short-interest ratio is presently 0.8 days.

Institutional Trading of CEMEX

A number of large investors have recently added to or reduced their stakes in CX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of CEMEX during the 3rd quarter valued at about $190,346,000. Principal Financial Group Inc. increased its stake in CEMEX by 0.6% during the second quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company’s stock worth $127,697,000 after acquiring an additional 112,479 shares during the last quarter. AQR Capital Management LLC raised its position in CEMEX by 28.4% during the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company’s stock valued at $121,113,000 after purchasing an additional 4,217,562 shares during the period. RWC Asset Advisors US LLC lifted its stake in shares of CEMEX by 32.3% in the 2nd quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock valued at $99,398,000 after purchasing an additional 3,796,262 shares during the last quarter. Finally, Perpetual Ltd boosted its holdings in shares of CEMEX by 12.6% in the 3rd 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. Institutional investors own 82.97% of the company’s stock.

CEMEX Price Performance

CX opened at $5.60 on Tuesday. The company has a market capitalization of $8.11 billion, a PE ratio of 18.67 and a beta of 1.50. The firm has a 50-day simple moving average of $5.67 and a two-hundred day simple moving average of $6.10. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. CEMEX has a 52 week low of $5.00 and a 52 week high of $9.27.

CEMEX Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.0207 per share. The ex-dividend date of this dividend is Tuesday, December 10th. CEMEX’s dividend payout ratio is presently 20.00%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CX shares. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. downgraded shares of CEMEX from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $6.00 in a report on Tuesday, October 29th. Barclays decreased their price target on CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Royal Bank of Canada lowered CEMEX from a “sector perform” rating to an “underperform” rating and dropped their price objective for the stock from $6.00 to $5.00 in a research note on Wednesday, December 11th. Finally, Scotiabank decreased their target price on CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.65.

About CEMEX

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.