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

CEMEX, S.A.B. de C.V. (NYSE:CX) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 17,930,000 shares, a drop of 17.1% from the February 28th total of 21,640,000 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily volume of 10,300,000 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Investors Weigh In On CEMEX

Several large investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its stake in shares of CEMEX by 159.1% during the fourth quarter. IFP Advisors Inc now owns 4,986 shares of the construction company’s stock worth $28,000 after buying an additional 3,062 shares during the period. Barclays PLC increased its position in shares of CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock valued at $38,000 after purchasing an additional 1,843 shares during the last quarter. Townsquare Capital LLC acquired a new stake in shares of CEMEX in the 4th quarter valued at $57,000. Dark Forest Capital Management LP purchased a new stake in shares of CEMEX during the 4th quarter worth $59,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of CEMEX during the fourth quarter worth $59,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

CEMEX Trading Down 2.2 %

NYSE:CX traded down $0.13 during trading hours on Thursday, reaching $5.57. 19,846,446 shares of the stock were exchanged, compared to its average volume of 9,799,056. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 8.85 and a beta of 1.28. CEMEX has a twelve month low of $5.00 and a twelve month high of $9.27. The business has a 50-day moving average of $6.18 and a two-hundred day moving average of $5.89.

CEMEX (NYSE:CX) last released its earnings results on Thursday, February 13th. The construction company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.06. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. On average, equities analysts predict that CEMEX will post 0.69 EPS for the current year.

CEMEX Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, March 18th. Investors of record on Monday, March 10th were paid a dividend of $0.0207 per share. The ex-dividend date was Monday, March 10th. CEMEX’s payout ratio is 12.70%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CX shares. The Goldman Sachs Group upped their price objective on shares of CEMEX from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Morgan Stanley downgraded shares of CEMEX from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada upped their price objective on CEMEX from $5.00 to $6.00 and gave the company an “underperform” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, CEMEX presently has a consensus rating of “Hold” and an average target price of $7.82.

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.