CEMEX, S.A.B. de C.V. (NYSE:CX - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $5.16 and last traded at $5.18, with a volume of 6053674 shares. The stock had previously closed at $5.18.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on CX shares. JPMorgan Chase & Co. downgraded CEMEX from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $7.00 to $6.00 in a research report on Tuesday, October 29th. Scotiabank lowered their price objective on CEMEX from $10.00 to $8.90 and set a "sector outperform" rating for the company in a research report on Tuesday, October 29th. Barclays lowered their price objective on CEMEX from $9.00 to $8.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. StockNews.com downgraded CEMEX from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 11th. Finally, The Goldman Sachs Group initiated coverage on CEMEX in a research report on Wednesday, July 10th. They set a "buy" rating and a $9.00 price target for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CEMEX currently has an average rating of "Moderate Buy" and an average price target of $7.82.
Get Our Latest Stock Report on CX
CEMEX Stock Performance
The company has a quick ratio of 0.65, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $5.96 and a 200 day moving average of $6.60. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 17.23 and a beta of 1.50.
CEMEX Cuts Dividend
The firm also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Investors of record on Friday, September 13th were paid a $0.021 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, September 13th. CEMEX's dividend payout ratio (DPR) is 13.33%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its stake in CEMEX by 0.6% during the second quarter. Principal Financial Group Inc. now owns 19,983,888 shares of the construction company's stock valued at $127,697,000 after buying an additional 112,479 shares in the last quarter. AQR Capital Management LLC raised its stake in CEMEX by 28.4% during the second quarter. AQR Capital Management LLC now owns 19,057,965 shares of the construction company's stock valued at $121,113,000 after buying an additional 4,217,562 shares in the last quarter. RWC Asset Advisors US LLC raised its stake in CEMEX by 32.3% during the second quarter. RWC Asset Advisors US LLC now owns 15,555,171 shares of the construction company's stock valued at $99,398,000 after buying an additional 3,796,262 shares in the last quarter. Perpetual Ltd raised its stake in CEMEX by 12.6% during the third quarter. Perpetual Ltd now owns 10,014,640 shares of the construction company's stock valued at $61,089,000 after buying an additional 1,117,379 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in CEMEX by 8.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 9,889,608 shares of the construction company's stock valued at $60,327,000 after buying an additional 807,394 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.
About CEMEX
(
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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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