CEMEX (NYSE:CX) Stock Price Down 4.7% – Here’s What Happened

CEMEX, S.A.B. de C.V. (NYSE:CX) fell 4.7% during mid-day trading on Wednesday . The stock traded as low as $5.45 and last traded at $5.46. 1,305,615 shares were traded during mid-day trading, a decline of 85% from the average session volume of 8,712,929 shares. The stock had previously closed at $5.73.

Wall Street Analyst Weigh In

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

CEMEX Trading Down 3.7 %

The firm’s 50 day simple moving average is $5.69 and its two-hundred day simple moving average is $6.15. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $8.00 billion, a P/E ratio of 19.13 and a beta of 1.50.

CEMEX Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th will be paid a $0.0207 dividend. The ex-dividend date is Tuesday, December 10th. CEMEX’s payout ratio is presently 13.33%.

Institutional Investors Weigh In On CEMEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CX. Pacer Advisors Inc. bought a new stake in CEMEX during the second quarter valued at $776,000. GFS Advisors LLC increased its holdings in CEMEX by 1,505.0% during the 3rd quarter. GFS Advisors LLC now owns 166,427 shares of the construction company’s stock valued at $1,015,000 after purchasing an additional 156,058 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of CEMEX by 8.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company’s stock valued at $60,327,000 after acquiring an additional 807,394 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of CEMEX by 63.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 5,397,977 shares of the construction company’s stock worth $32,927,000 after purchasing an additional 2,090,688 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of CEMEX by 28.4% in the 2nd 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. 82.97% of the stock is currently owned by institutional investors.

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.