CEMEX (NYSE:CX) Upgraded to “Overweight” by Barclays

Barclays upgraded shares of CEMEX (NYSE:CX) from an equal weight rating to an overweight rating in a research note published on Wednesday morning, Marketbeat reports. The brokerage currently has $9.00 price objective on the construction company’s stock.

CX has been the subject of a number of other reports. StockNews.com raised CEMEX from a buy rating to a strong-buy rating in a research note on Thursday, July 18th. Bank of America lowered CEMEX from a buy rating to a neutral rating and set a $9.00 price target for the company. in a research note on Wednesday, April 24th. Royal Bank of Canada initiated coverage on CEMEX in a research note on Tuesday, May 14th. They set an underperform rating and a $9.00 price target for the company. JPMorgan Chase & Co. cut their price objective on CEMEX from $9.50 to $8.50 and set an overweight rating for the company in a research report on Monday, July 8th. 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 objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CEMEX has a consensus rating of Moderate Buy and an average target price of $8.78.

CEMEX Stock Performance

Shares of NYSE CX opened at $6.04 on Wednesday. The stock has a fifty day moving average price of $6.58 and a two-hundred day moving average price of $7.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.65 and a current ratio of 0.90. The firm has a market cap of $8.75 billion, a P/E ratio of 43.14 and a beta of 1.47. CEMEX has a 1 year low of $5.67 and a 1 year high of $9.27.

CEMEX Announces Dividend

The firm also recently announced a Variable dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were issued a $0.349 dividend. The ex-dividend date of this dividend was Monday, June 17th. CEMEX’s payout ratio is currently 14.29%.

Institutional Trading of CEMEX

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC lifted its holdings in shares of CEMEX by 675.0% in the fourth quarter. International Assets Investment Management LLC now owns 447,766 shares of the construction company’s stock valued at $34,700,000 after purchasing an additional 389,990 shares in the last quarter. Capital International Investors lifted its holdings in shares of CEMEX by 0.5% in the fourth quarter. Capital International Investors now owns 28,003,151 shares of the construction company’s stock valued at $217,024,000 after purchasing an additional 152,587 shares in the last quarter. Axiom Investors LLC DE raised its holdings in shares of CEMEX by 10.2% during the fourth quarter. Axiom Investors LLC DE now owns 6,660,570 shares of the construction company’s stock worth $51,619,000 after acquiring an additional 614,520 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of CEMEX by 76.4% during the fourth quarter. Wellington Management Group LLP now owns 444,262 shares of the construction company’s stock worth $3,443,000 after acquiring an additional 192,399 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of CEMEX by 25.9% during the first quarter. BNP Paribas Financial Markets now owns 1,296,403 shares of the construction company’s stock worth $11,681,000 after acquiring an additional 267,074 shares in the last quarter. Hedge funds and other 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.