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

CEMEX, S.A.B. de C.V. (NYSE:CX) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 9,920,000 shares, a growth of 47.6% from the October 15th total of 6,720,000 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 12,060,000 shares, the days-to-cover ratio is currently 0.8 days.

Hedge Funds Weigh In On CEMEX

Institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of CEMEX in the third quarter valued at about $190,346,000. AQR Capital Management LLC lifted 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 worth $121,113,000 after acquiring an additional 4,217,562 shares during the last quarter. RWC Asset Advisors US LLC boosted its holdings in shares of CEMEX by 32.3% during the second quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company’s stock worth $99,398,000 after acquiring an additional 3,796,262 shares during the period. BNP Paribas Financial Markets grew its position 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 valued at $24,873,000 after purchasing an additional 2,549,852 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in 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 valued at $32,927,000 after purchasing an additional 2,090,688 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com lowered shares of CEMEX from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 11th. Royal Bank of Canada lowered their price objective on shares of CEMEX from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. downgraded 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. Barclays dropped their price objective on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, Scotiabank cut 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. Three equities research 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, CEMEX presently has a consensus rating of “Moderate Buy” and an average target price of $7.82.

CEMEX Stock Performance

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

CEMEX Cuts Dividend

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

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.