Short Interest in CEMEX, S.A.B. de C.V. (NYSE:CX) Grows By 47.6%

CEMEX, S.A.B. de C.V. (NYSE:CX - Get Free Report) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 9,920,000 shares, a growth of 47.6% from the October 15th total of 6,720,000 shares. Based on an average daily trading volume, of 12,060,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.7% of the company's shares are sold short.

Hedge Funds Weigh In On CEMEX

Institutional investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in CEMEX in the second quarter valued at about $33,000. Barclays PLC grew its position in shares of CEMEX by 41.8% in the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company's stock worth $38,000 after buying an additional 1,843 shares during the last quarter. Allworth Financial LP grew its position in shares of CEMEX by 36.0% in the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company's stock worth $40,000 after buying an additional 1,747 shares during the last quarter. Aureus Asset Management LLC purchased a new stake in CEMEX during the third quarter valued at approximately $70,000. Finally, Vontobel Holding Ltd. purchased a new stake in CEMEX during the third quarter valued at approximately $77,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded CEMEX from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $7.00 to $6.00 in a report on Tuesday, October 29th. Barclays reduced their target price on CEMEX from $9.00 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Scotiabank lowered their target price on shares of CEMEX from $10.00 to $8.90 and set a "sector outperform" rating for the company in a research note on Tuesday, October 29th. Royal Bank of Canada reduced their price target on shares of CEMEX from $6.50 to $6.00 and set a "sector perform" rating on the stock in a research note on Tuesday, October 29th. Finally, StockNews.com cut shares of CEMEX from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CEMEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.82.

CEMEX Stock Up 2.6 %

NYSE:CX traded up $0.14 during mid-day trading on Friday, reaching $5.47. The company's stock had a trading volume of 9,724,844 shares, compared to its average volume of 8,836,311. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. CEMEX has a 1 year low of $5.00 and a 1 year high of $9.27. The stock has a fifty day moving average of $5.87 and a 200-day moving average of $6.43. The firm has a market capitalization of $7.93 billion, a PE ratio of 18.23 and a beta of 1.49.

CEMEX Cuts Dividend

The firm also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Stockholders of record on Friday, September 13th were given a $0.021 dividend. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX's payout ratio is presently 13.33%.

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.