CEMEX (NYSE:CX) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of CEMEX (NYSE:CX - Free Report) from an overweight rating to a neutral rating in a research report released on Tuesday, Marketbeat.com reports. They currently have $6.00 target price on the construction company's stock, down from their previous target price of $7.00.

CX has been the topic of a number of other reports. StockNews.com downgraded shares of CEMEX from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 11th. The Goldman Sachs Group assumed coverage on shares of CEMEX in a report on Wednesday, July 10th. They set a "buy" rating and a $9.00 target price for the company. Barclays raised CEMEX from an "equal weight" rating to an "overweight" rating and set a $9.00 price target on the stock in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada upgraded CEMEX from an "underperform" rating to a "sector perform" rating and dropped their price objective for the company from $9.00 to $6.50 in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $7.87.

CEMEX Trading Down 3.8 %

Shares of CX stock traded down $0.21 on Tuesday, reaching $5.25. 11,958,950 shares of the stock were exchanged, compared to its average volume of 8,536,219. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.90 and a quick ratio of 0.65. CEMEX has a one year low of $5.21 and a one year high of $9.27. The stock has a market cap of $7.61 billion, a PE ratio of 37.50 and a beta of 1.47. The stock has a 50 day moving average price of $6.06 and a 200 day moving average price of $6.69.

CEMEX Cuts Dividend

The firm also recently declared a Variable dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 13th were issued a $0.021 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 0.7%. CEMEX's dividend payout ratio (DPR) is currently 28.57%.

Institutional Investors Weigh In On CEMEX

Large investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of CEMEX in the second quarter valued at approximately $33,000. Allworth Financial LP boosted its holdings in shares of CEMEX by 36.0% during 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 period. KCM Investment Advisors LLC acquired a new position in CEMEX in the 1st quarter valued at about $91,000. Hennion & Walsh Asset Management Inc. acquired a new stake in CEMEX during the first quarter worth approximately $102,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in CEMEX during the first quarter worth approximately $114,000. Institutional investors 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.