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

CEMEX, S.A.B. de C.V. (NYSE:CX) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 24,340,000 shares, a decrease of 12.8% from the April 30th total of 27,900,000 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average trading volume of 15,050,000 shares, the short-interest ratio is presently 1.6 days.

Institutional Trading of CEMEX

Institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CEMEX by 41.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,080 shares of the construction company’s stock valued at $170,000 after purchasing an additional 8,795 shares in the last quarter. Choreo LLC bought a new stake in CEMEX during the fourth quarter worth about $268,000. Activest Wealth Management acquired a new stake in shares of CEMEX during the fourth quarter worth approximately $113,000. Vontobel Holding Ltd. raised its stake in shares of CEMEX by 50.0% in the fourth quarter. Vontobel Holding Ltd. now owns 19,032 shares of the construction company’s stock valued at $107,000 after acquiring an additional 6,344 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of CEMEX by 289.7% in the 4th quarter. Allworth Financial LP now owns 25,745 shares of the construction company’s stock worth $144,000 after acquiring an additional 19,139 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

CEMEX Trading Down 0.4%

Shares of CEMEX stock opened at $6.79 on Thursday. CEMEX has a 1 year low of $4.89 and a 1 year high of $7.34. The company’s fifty day simple moving average is $6.11 and its 200-day simple moving average is $5.97. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 10.78 and a beta of 1.41. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43.

CEMEX (NYSE:CX) last announced its quarterly earnings data on Monday, April 28th. The construction company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $186.46 million during the quarter, compared to analysts’ expectations of $214.59 million. CEMEX had a net margin of 5.70% and a return on equity of 7.78%. As a group, sell-side analysts expect that CEMEX will post 0.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CX shares. Wall Street Zen upgraded CEMEX from a “hold” rating to a “buy” rating in a report on Saturday, May 3rd. JPMorgan Chase & Co. lifted their price target on CEMEX from $6.00 to $6.80 and gave the stock a “neutral” rating in a research note on Tuesday, April 29th. Morgan Stanley lowered shares of CEMEX from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 26th. Itau BBA Securities cut shares of CEMEX from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, The Goldman Sachs Group lifted their target price on shares of CEMEX from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.58.

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.