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

CEMEX, S.A.B. de C.V. (NYSE:CX) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 5,750,000 shares, a drop of 9.6% from the March 15th total of 6,360,000 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average trading volume of 6,860,000 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On CEMEX

A number of large investors have recently made changes to their positions in the business. Ballentine Partners LLC lifted its stake in shares of CEMEX by 6.9% in the 1st quarter. Ballentine Partners LLC now owns 21,127 shares of the construction company’s stock valued at $190,000 after purchasing an additional 1,358 shares during the period. Aprio Wealth Management LLC lifted its stake in shares of CEMEX by 8.9% in the 1st quarter. Aprio Wealth Management LLC now owns 17,558 shares of the construction company’s stock valued at $158,000 after purchasing an additional 1,431 shares during the period. Parallel Advisors LLC lifted its stake in shares of CEMEX by 11.5% in the 4th quarter. Parallel Advisors LLC now owns 14,006 shares of the construction company’s stock valued at $109,000 after purchasing an additional 1,443 shares during the period. Mariner LLC lifted its stake in shares of CEMEX by 9.7% in the 3rd quarter. Mariner LLC now owns 17,076 shares of the construction company’s stock valued at $111,000 after purchasing an additional 1,505 shares during the period. Finally, CWM LLC lifted its stake in shares of CEMEX by 75.0% in the 1st quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after purchasing an additional 1,506 shares during the period. 82.97% of the stock is currently owned by institutional investors.

CEMEX Trading Down 2.6 %

CX traded down $0.22 on Wednesday, hitting $8.18. 6,713,546 shares of the company were exchanged, compared to its average volume of 6,677,525. The firm has a fifty day simple moving average of $8.27 and a two-hundred day simple moving average of $7.53. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.74. CEMEX has a 12 month low of $5.67 and a 12 month high of $9.27. The stock has a market capitalization of $11.85 billion, a PE ratio of 70.00, a price-to-earnings-growth ratio of 0.16 and a beta of 1.47.

CEMEX (NYSE:CX) last issued its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. The business had revenue of $4.24 billion during the quarter. CEMEX had a return on equity of 1.50% and a net margin of 1.06%. Sell-side analysts expect that CEMEX will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

CX has been the topic of several recent analyst reports. StockNews.com cut CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, February 9th. Barclays cut CEMEX from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective on the stock. in a report on Friday, February 9th. Finally, Bank of America raised CEMEX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $8.20 to $9.00 in a report on Tuesday, January 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.37.

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.