Cemex (NYSE:CX) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Cemex (NYSE:CX) from a buy rating to a hold rating in a report released on Monday.

Several other research firms have also recently issued reports on CX. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research report on Wednesday, October 8th. Citigroup cut Cemex from a “buy” rating to a “neutral” rating and raised their price target for the company from $9.00 to $10.00 in a research report on Monday, October 13th. JPMorgan Chase & Co. upgraded Cemex from a “neutral” rating to an “overweight” rating and raised their price target for the company from $8.10 to $10.50 in a research report on Tuesday, August 26th. The Goldman Sachs Group raised their price target on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Scotiabank cut Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price target for the company. in a research report on Tuesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Cemex currently has a consensus rating of “Hold” and an average target price of $9.52.

Cemex Trading Down 0.4%

NYSE:CX opened at $9.33 on Monday. The stock has a fifty day moving average price of $9.20 and a two-hundred day moving average price of $7.79. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.35 and a beta of 1.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.61 and a current ratio of 0.86. Cemex has a 1 year low of $4.89 and a 1 year high of $9.97.

Cemex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 17th were given a dividend of $0.0224 per share. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.09 annualized dividend and a yield of 1.0%. Cemex’s dividend payout ratio is 8.82%.

Hedge Funds Weigh In On Cemex

Several institutional investors and hedge funds have recently bought and sold shares of CX. Dodge & Cox increased its position in Cemex by 35.1% during the second quarter. Dodge & Cox now owns 95,023,835 shares of the construction company’s stock worth $658,515,000 after purchasing an additional 24,703,035 shares during the last quarter. Orbis Allan Gray Ltd increased its position in Cemex by 90.2% during the second quarter. Orbis Allan Gray Ltd now owns 26,300,519 shares of the construction company’s stock worth $182,263,000 after purchasing an additional 12,469,417 shares during the last quarter. Strs Ohio acquired a new position in Cemex during the first quarter worth approximately $27,123,000. Robeco Institutional Asset Management B.V. increased its position in Cemex by 54.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 10,366,666 shares of the construction company’s stock worth $93,196,000 after purchasing an additional 3,639,547 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Cemex by 58.8% during the first quarter. Goldman Sachs Group Inc. now owns 7,187,143 shares of the construction company’s stock worth $40,320,000 after purchasing an additional 2,661,030 shares during the last quarter. Institutional investors and hedge funds 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.