CEMEX, S.A.B. de C.V. (NYSE:CX) Short Interest Down 9.6% in March

CEMEX, S.A.B. de C.V. (NYSE:CX - Get Free Report) was the target of a significant 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. Based on an average daily trading volume, of 6,860,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.4% of the company's stock are sold short.

CEMEX Stock Performance

CEMEX stock traded down $0.16 during midday trading on Monday, reaching $8.40. 3,831,988 shares of the stock traded hands, compared to its average volume of 6,645,680. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $8.28 and a two-hundred day moving average price of $7.52. The firm has a market cap of $12.17 billion, a price-to-earnings ratio of 70.00, a PEG ratio of 0.16 and a beta of 1.47. CEMEX has a fifty-two week low of $5.67 and a fifty-two week high of $9.27.

CEMEX (NYSE:CX - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported ($0.30) earnings per share for the quarter. CEMEX had a return on equity of 1.50% and a net margin of 1.06%. The company had revenue of $4.24 billion during the quarter. On average, equities research analysts forecast that CEMEX will post 0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CX. Bank of America upgraded CEMEX from a "neutral" rating to a "buy" rating and boosted their price target for the company from $8.20 to $9.00 in a report on Tuesday, January 9th. StockNews.com downgraded shares of CEMEX from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 9th. Finally, Barclays cut shares of CEMEX from an "overweight" rating to an "equal weight" rating and set a $9.00 target price on the stock. in a report on Friday, February 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $9.37.

Hedge Funds Weigh In On CEMEX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors grew its holdings in shares of CEMEX by 0.5% during the 4th quarter. Capital International Investors now owns 28,003,151 shares of the construction company's stock valued at $217,024,000 after acquiring an additional 152,587 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of CEMEX by 7.9% in the fourth quarter. Principal Financial Group Inc. now owns 20,833,868 shares of the construction company's stock valued at $161,462,000 after purchasing an additional 1,521,007 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of CEMEX by 41.4% during the 3rd quarter. Acadian Asset Management LLC now owns 18,924,664 shares of the construction company's stock worth $122,996,000 after purchasing an additional 5,542,723 shares during the period. Perpetual Ltd raised its stake in shares of CEMEX by 42.3% in the 4th quarter. Perpetual Ltd now owns 11,304,101 shares of the construction company's stock valued at $87,607,000 after buying an additional 3,362,725 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of CEMEX by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,776,419 shares of the construction company's stock valued at $59,585,000 after purchasing an additional 431,683 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

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.