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

CEMEX, S.A.B. de C.V. (NYSE:CX - Get Free Report) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 24,340,000 shares, a decline of 12.8% from the April 30th total of 27,900,000 shares. Based on an average daily volume of 15,050,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.6% of the company's shares are sold short.

Hedge Funds Weigh In On CEMEX

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc boosted its holdings in CEMEX by 159.1% in the 4th quarter. IFP Advisors Inc now owns 4,986 shares of the construction company's stock worth $28,000 after acquiring an additional 3,062 shares during the period. Natixis Advisors LLC boosted its stake in shares of CEMEX by 13.6% during the 4th quarter. Natixis Advisors LLC now owns 358,776 shares of the construction company's stock valued at $2,023,000 after buying an additional 43,089 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CEMEX by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 3,863,502 shares of the construction company's stock valued at $21,790,000 after buying an additional 53,269 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of CEMEX by 30.5% during the 4th quarter. QRG Capital Management Inc. now owns 30,937 shares of the construction company's stock valued at $174,000 after buying an additional 7,232 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of CEMEX during the 4th quarter valued at approximately $63,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

CEMEX Stock Down 1.5%

NYSE CX traded down $0.10 on Friday, reaching $6.71. The company had a trading volume of 8,920,378 shares, compared to its average volume of 11,702,312. The firm has a market capitalization of $9.72 billion, a PE ratio of 10.65 and a beta of 1.40. CEMEX has a 1 year low of $4.89 and a 1 year high of $7.34. The firm has a 50-day moving average of $6.16 and a 200-day moving average of $6.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.82 and a quick ratio of 0.58.

CEMEX (NYSE:CX - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The construction company reported $0.08 earnings per share for the quarter. The firm had revenue of $186.46 million during the quarter, compared to analysts' expectations of $214.59 million. CEMEX had a return on equity of 7.78% and a net margin of 5.70%. On average, equities research analysts anticipate that CEMEX will post 0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CX. Morgan Stanley cut CEMEX from an "overweight" rating to an "equal weight" rating in a report on Wednesday, March 26th. The Goldman Sachs Group boosted their target price on CEMEX from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Royal Bank of Canada boosted their target price on CEMEX from $5.00 to $5.25 and gave the stock an "underperform" rating in a report on Tuesday, April 29th. Itau BBA Securities cut CEMEX from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Finally, Bradesco Corretora set a $7.50 target price on CEMEX and gave the stock a "neutral" rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $7.58.

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.