Cemex S.A.B. de C.V. (NYSE:CX) Sees Significant Growth in Short Interest

Cemex S.A.B. de C.V. (NYSE:CX) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 10,724,962 shares, an increase of 31.0% from the December 31st total of 8,184,899 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,963,901 shares, the short-interest ratio is presently 1.8 days. Based on an average daily trading volume, of 5,963,901 shares, the short-interest ratio is presently 1.8 days. Currently, 0.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CX shares. Royal Bank Of Canada upped their target price on shares of Cemex from $7.00 to $8.25 and gave the stock an “underperform” rating in a research report on Wednesday, October 29th. Wall Street Zen raised shares of Cemex from a “hold” rating to a “buy” rating in a report on Tuesday, November 4th. Bank of America upgraded Cemex from a “neutral” rating to a “buy” rating and raised their price objective for the company from $10.00 to $10.80 in a research report on Wednesday, October 15th. The Goldman Sachs Group boosted their target price on Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Barclays reissued an “overweight” rating and set a $15.00 price target on shares of Cemex in a research note on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.52.

Institutional Investors Weigh In On Cemex

Several hedge funds have recently made changes to their positions in CX. WealthCollab LLC increased its holdings in shares of Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock valued at $26,000 after acquiring an additional 1,580 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Cemex by 256.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock valued at $30,000 after purchasing an additional 3,093 shares in the last quarter. Ameriflex Group Inc. grew its stake in Cemex by 100.0% in the third quarter. Ameriflex Group Inc. now owns 3,488 shares of the construction company’s stock valued at $31,000 after purchasing an additional 1,744 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Cemex by 63.7% in the second quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock worth $36,000 after purchasing an additional 2,027 shares in the last quarter. Finally, Reyes Financial Architecture Inc. purchased a new stake in shares of Cemex during the third quarter valued at about $36,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Cemex Trading Up 0.6%

NYSE CX traded up $0.08 during trading hours on Tuesday, hitting $12.73. 9,074,466 shares of the company were exchanged, compared to its average volume of 6,225,697. Cemex has a 52 week low of $4.89 and a 52 week high of $13.35. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $11.84 and a 200 day moving average price of $10.16. The stock has a market cap of $18.44 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.86 and a beta of 1.61.

Cemex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were given a dividend of $0.0224 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.7%. Cemex’s dividend payout ratio (DPR) is 9.68%.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.