CEMEX (NYSE:CX) Stock Price Up 5.9%

CEMEX, S.A.B. de C.V. (NYSE:CX) shot up 5.9% during trading on Wednesday . The stock traded as high as $6.66 and last traded at $6.64. 11,839,612 shares traded hands during mid-day trading, an increase of 77% from the average session volume of 6,698,664 shares. The stock had previously closed at $6.27.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CX. JPMorgan Chase & Co. cut their price target on CEMEX from $9.50 to $8.50 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada assumed coverage on shares of CEMEX in a research note on Tuesday, May 14th. They issued an “underperform” rating and a $9.00 target price on the stock. StockNews.com upgraded shares of CEMEX from a “buy” rating to a “strong-buy” rating in a report on Friday, April 26th. The Goldman Sachs Group assumed coverage on shares of CEMEX in a research report on Wednesday. They set a “buy” rating and a $9.00 target price for the company. Finally, Bank of America lowered CEMEX from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.24.

CEMEX Trading Up 6.5 %

The company’s fifty day simple moving average is $7.07 and its two-hundred day simple moving average is $7.75. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 47.43 and a beta of 1.47. The company has a quick ratio of 0.51, a current ratio of 0.78 and a debt-to-equity ratio of 0.54.

CEMEX (NYSE:CX) last posted its earnings results on Monday, April 29th. The construction company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. CEMEX had a return on equity of 1.82% and a net margin of 1.28%. The firm had revenue of $4.14 billion for the quarter. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Research analysts forecast that CEMEX, S.A.B. de C.V. will post 0.88 earnings per share for the current fiscal year.

CEMEX Dividend Announcement

The company also recently announced a Variable dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were issued a dividend of $0.349 per share. The ex-dividend date was Monday, June 17th. CEMEX’s dividend payout ratio (DPR) is presently 14.29%.

Institutional Trading of CEMEX

A number of institutional investors have recently modified their holdings of CX. Creative Financial Designs Inc. ADV acquired a new stake in CEMEX in the 4th quarter valued at approximately $26,000. CWM LLC raised its holdings in shares of CEMEX by 75.0% in the first quarter. CWM LLC now owns 3,514 shares of the construction company’s stock valued at $32,000 after purchasing an additional 1,506 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of CEMEX by 65.0% in the fourth quarter. Blue Trust Inc. now owns 5,232 shares of the construction company’s stock valued at $41,000 after purchasing an additional 2,062 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in CEMEX by 3,180.2% during the fourth quarter. Fisher Asset Management LLC now owns 10,923 shares of the construction company’s stock worth $85,000 after purchasing an additional 10,590 shares during the last quarter. Finally, Prudent Man Advisors LLC bought a new position in CEMEX in the fourth quarter valued at $86,000. 82.97% of the stock is currently owned by institutional investors.

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.