Cemex (NYSE:CX) Hits New 12-Month High – Should You Buy?

Cemex S.A.B. de C.V. (NYSE:CX) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.03 and last traded at $11.9450, with a volume of 2934040 shares trading hands. The stock had previously closed at $11.84.

Analyst Ratings Changes

Several brokerages have recently issued reports on CX. Wall Street Zen raised Cemex from a “hold” rating to a “buy” rating in a research report on Tuesday, November 4th. Scotiabank lowered Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price objective for the company. in a research report on Tuesday, October 21st. Barclays upped their target price on shares of Cemex from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Finally, Citigroup cut shares of Cemex from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $9.00 to $10.00 in a report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cemex has a consensus rating of “Hold” and an average target price of $10.14.

Cemex Trading Up 6.5%

The firm’s 50 day moving average price is $10.95 and its 200-day moving average price is $9.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.91 and a quick ratio of 0.67. The stock has a market cap of $17.79 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.45 and a beta of 1.59.

Cemex (NYSE:CX) last announced its quarterly earnings data on Tuesday, October 28th. The construction company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.15. Cemex had a net margin of 8.62% and a return on equity of 6.85%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $226.73 million. As a group, equities research analysts forecast that Cemex S.A.B. de C.V. will post 0.69 earnings per share for the current year.

Cemex Dividend Announcement

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

Institutional Investors Weigh In On Cemex

Large investors have recently added to or reduced their stakes in the stock. WealthCollab LLC boosted its stake in shares of Cemex by 73.7% in the 2nd quarter. WealthCollab LLC now owns 3,724 shares of the construction company’s stock worth $26,000 after buying an additional 1,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Cemex by 256.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,298 shares of the construction company’s stock worth $30,000 after purchasing an additional 3,093 shares during the last quarter. Ameriflex Group Inc. grew its stake in shares of Cemex by 100.0% during the 3rd 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 period. Farther Finance Advisors LLC increased its position in shares of Cemex by 63.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,210 shares of the construction company’s stock valued at $36,000 after purchasing an additional 2,027 shares during the last quarter. Finally, Reyes Financial Architecture Inc. bought a new position in shares of Cemex in the 3rd quarter worth approximately $36,000. Institutional investors own 82.97% of the company’s stock.

About Cemex

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.