Short Interest in CEMEX, S.A.B. de C.V. (NYSE:CX) Increases By 47.6%

CEMEX, S.A.B. de C.V. (NYSE:CX) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 9,920,000 shares, an increase of 47.6% from the October 15th total of 6,720,000 shares. Based on an average trading volume of 12,060,000 shares, the short-interest ratio is presently 0.8 days. Currently, 0.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On CEMEX

Several institutional investors and hedge funds have recently bought and sold shares of CX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of CEMEX during the third quarter valued at approximately $190,346,000. AQR Capital Management LLC raised its position 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 acquiring an additional 4,217,562 shares during the period. RWC Asset Advisors US LLC increased 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 worth $99,398,000 after purchasing an additional 3,796,262 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of CEMEX by 166.9% in the third quarter. BNP Paribas Financial Markets now owns 4,077,576 shares of the construction company’s stock worth $24,873,000 after buying an additional 2,549,852 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in CEMEX by 63.2% during the third quarter. Loomis Sayles & Co. L P now owns 5,397,977 shares of the construction company’s stock valued at $32,927,000 after purchasing an additional 2,090,688 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Trading Up 2.6 %

Shares of CX stock traded up $0.14 during mid-day trading on Friday, hitting $5.47. The company’s stock had a trading volume of 9,724,844 shares, compared to its average volume of 8,836,311. The company has a market cap of $7.93 billion, a PE ratio of 18.25 and a beta of 1.49. CEMEX has a 52 week low of $5.00 and a 52 week high of $9.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.73 and a current ratio of 0.98. The company’s fifty day simple moving average is $5.87 and its 200-day simple moving average is $6.44.

CEMEX Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on CX shares. JPMorgan Chase & Co. lowered shares of CEMEX from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $6.00 in a research note on Tuesday, October 29th. Royal Bank of Canada dropped their price objective on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Tuesday, October 29th. Barclays lowered 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. StockNews.com lowered CEMEX from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 11th. Finally, Scotiabank decreased their price target on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating for the company in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CEMEX has an average rating of “Moderate Buy” and a consensus target price of $7.82.

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.