Cemex (NYSE:CX) Upgraded at Zacks Research

Zacks Research upgraded shares of Cemex (NYSE:CX) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Citigroup lowered shares of Cemex from a “buy” rating to a “neutral” rating and raised their target price for the stock from $9.00 to $10.00 in a research report on Monday, October 13th. The Goldman Sachs Group increased their target price on Cemex from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cemex in a research note on Wednesday, January 21st. Barclays reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of Cemex in a research note on Tuesday, January 27th. Finally, Bank of America upgraded Cemex from a “neutral” rating to a “buy” rating and raised their target price for the company from $10.00 to $10.80 in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cemex presently has a consensus rating of “Hold” and an average price target of $10.52.

Cemex Trading Down 4.9%

CX opened at $12.13 on Monday. The business has a fifty day simple moving average of $11.87 and a 200-day simple moving average of $10.18. Cemex has a 52 week low of $4.89 and a 52 week high of $13.35. The firm has a market cap of $17.57 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.86 and a beta of 1.61. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 0.37.

Cemex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were issued a $0.0224 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, December 15th. Cemex’s dividend payout ratio (DPR) is 9.68%.

Hedge Funds Weigh In On Cemex

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its holdings in Cemex by 5.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock worth $193,000 after purchasing an additional 913 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Cemex by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 319,835 shares of the construction company’s stock valued at $2,875,000 after buying an additional 1,221 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Cemex by 5.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,201 shares of the construction company’s stock valued at $218,000 after buying an additional 1,268 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Cemex by 4.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,609 shares of the construction company’s stock valued at $329,000 after purchasing an additional 1,288 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Cemex by 3.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock worth $387,000 after buying an additional 1,389 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Cemex Company Profile

Cemex (NYSE: CX) is a global building materials company headquartered in Monterrey, Mexico. The company produces, distributes and sells cement, ready-mix concrete and aggregates, as well as related building materials, to construction markets in more than 50 countries. Cemex’s product portfolio also includes asphalt and mortar mixes, waste-derived fuels and other complementary construction solutions, supported by a network of production facilities, distribution centers and logistics operations.

Founded in 1906 as Cementos Hidalgo, the company adopted the Cemex name in 1976 following a series of domestic mergers and expansions.