Short Interest in Cemex S.A.B. de C.V. (NYSE:CX) Declines By 29.8%

Key Points

• Cemex S.A.B. de C.V. experienced a notable decline in short interest, falling by 29.8% to 20,610,000 shares as of August 15th.
• Institutional investors now hold 82.97% of Cemex's stock, with several large firms increasing their positions significantly during the second quarter.
• Wall Street analysts have raised their target prices for Cemex, with Barclays and JPMorgan increasing their targets to $10.00 and $10.50 respectively, indicating a positive outlook.

Cemex S.A.B. de C.V. (NYSE:CX - Get Free Report) saw a significant drop in short interest during the month of August. As of August 15th, there was short interest totaling 20,610,000 shares, adropof29.8% from the July 31st total of 29,350,000 shares. Currently,1.4% of the company's shares are short sold. Based on an average daily volume of 12,720,000 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 12,720,000 shares, the days-to-cover ratio is currently 1.6 days. Currently,1.4% of the company's shares are short sold.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Orion Porfolio Solutions LLC lifted its position in shares of Cemex by 25.4% in the second quarter. Orion Porfolio Solutions LLC now owns 28,371 shares of the construction company's stock valued at $197,000 after acquiring an additional 5,753 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Cemex during the second quarter worth $1,322,000. B. Riley Wealth Advisors Inc. purchased a new position in Cemex during the second quarter valued at $107,000. Advisory Services Network LLC purchased a new position in Cemex during the second quarter valued at $383,000. Finally, FORA Capital LLC bought a new stake in Cemex in the 2nd quarter valued at $327,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

CX has been the topic of a number of research analyst reports. Barclays upped their target price on Cemex from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Scotiabank reaffirmed an "outperform" rating on shares of Cemex in a research note on Tuesday. JPMorgan Chase & Co. raised Cemex from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th. Bank of America upped their target price on shares of Cemex from $8.60 to $10.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Itau BBA Securities lowered shares of Cemex from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $9.02.

Cemex Stock Up 2.0%

Cemex stock opened at $9.42 on Friday. Cemex has a one year low of $4.89 and a one year high of $9.44. The stock has a fifty day moving average of $8.24 and a 200 day moving average of $6.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86. The stock has a market cap of $13.64 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 1.52 and a beta of 1.43.

Cemex (NYSE:CX - Get Free Report) last announced its earnings results on Thursday, July 24th. The construction company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. Cemex had a net margin of 9.61% and a return on equity of 6.89%. The business had revenue of $4.13 billion during the quarter, compared to analysts' expectations of $4.20 billion. As a group, sell-side analysts predict that Cemex will post 0.69 EPS for the current year.

Cemex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 17th were paid a $0.0224 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.0%. Cemex's dividend payout ratio is 7.84%.

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.

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