CEMEX, S.A.B. de C.V. (NYSE:CX) Sees Significant Decline in Short Interest

CEMEX, S.A.B. de C.V. (NYSE:CX) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 5,750,000 shares, a decrease of 9.6% from the March 15th total of 6,360,000 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,860,000 shares, the short-interest ratio is currently 0.8 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on CX. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 9th. Barclays cut CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price target for the company. in a research note on Friday, February 9th. Finally, Bank of America raised CEMEX from a “neutral” rating to a “buy” rating and upped their price target for the company from $8.20 to $9.00 in a research note on Tuesday, January 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.37.

CEMEX Stock Down 2.6 %

Shares of NYSE:CX traded down $0.22 during midday trading on Wednesday, hitting $8.18. The stock had a trading volume of 6,713,546 shares, compared to its average volume of 6,677,525. CEMEX has a 12 month low of $5.67 and a 12 month high of $9.27. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 0.59. The business’s 50-day simple moving average is $8.27 and its 200-day simple moving average is $7.53. The company has a market cap of $11.85 billion, a P/E ratio of 70.00, a PEG ratio of 0.16 and a beta of 1.47.

CEMEX (NYSE:CX) last released its earnings results on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. CEMEX had a net margin of 1.06% and a return on equity of 1.50%. The firm had revenue of $4.24 billion during the quarter. On average, sell-side analysts forecast that CEMEX will post 0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CEMEX

Several hedge funds have recently added to or reduced their stakes in the business. Capital International Investors lifted its holdings in shares of CEMEX by 0.5% during the fourth quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock worth $217,024,000 after buying an additional 152,587 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of CEMEX by 7.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company’s stock worth $161,462,000 after buying an additional 1,521,007 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of CEMEX by 41.4% during the third quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company’s stock worth $122,996,000 after buying an additional 5,542,723 shares in the last quarter. Perpetual Ltd lifted its holdings in shares of CEMEX by 42.3% during the fourth quarter. Perpetual Ltd now owns 11,304,101 shares of the construction company’s stock worth $87,607,000 after buying an additional 3,362,725 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of CEMEX by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 10,776,419 shares of the construction company’s stock worth $59,585,000 after buying an additional 431,683 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.