Traders Purchase Large Volume of Call Options on Cemex (NYSE:CX)
by Renee Jackson · The Cerbat GemCemex S.A.B. de C.V. (NYSE:CX – Get Free Report) was the recipient of unusually large options trading on Friday. Traders bought 155,129 call options on the stock. This is an increase of approximately 13,714% compared to the typical daily volume of 1,123 call options.
Cemex Price Performance
Shares of CX stock traded up $0.17 on Friday, reaching $12.52. The company’s stock had a trading volume of 8,794,494 shares, compared to its average volume of 6,221,181. The stock’s fifty day simple moving average is $11.18 and its 200-day simple moving average is $9.63. Cemex has a 1 year low of $4.89 and a 1 year high of $12.69. The company has a market capitalization of $18.14 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.84 and a beta of 1.59. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 0.37.
Cemex (NYSE:CX – Get Free Report) last released its quarterly earnings results on Tuesday, October 28th. The construction company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. Cemex had a net margin of 8.62% and a return on equity of 6.85%. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $226.73 million. Analysts forecast that Cemex will post 0.69 earnings per share for the current fiscal year.
Cemex Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were issued a $0.0224 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.7%. Cemex’s dividend payout ratio (DPR) is presently 9.68%.
Analysts Set New Price Targets
A number of brokerages recently issued reports on CX. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a research note on Tuesday, November 4th. Bank of America raised shares of Cemex from a “neutral” rating to a “buy” rating and lifted their price target for the company from $10.00 to $10.80 in a report on Wednesday, October 15th. The Goldman Sachs Group increased their price objective on shares of Cemex from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Scotiabank downgraded shares of Cemex from a “sector outperform” rating to a “sector perform” rating and set a $11.10 price objective on the stock. in a research report on Tuesday, October 21st. Finally, Citigroup downgraded shares of Cemex from a “buy” rating to a “neutral” rating and upped their target price for the stock from $9.00 to $10.00 in a report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.14.
Institutional Investors Weigh In On Cemex
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Burns Matteson Capital Management LLC lifted its stake in shares of Cemex by 7.6% in the 4th quarter. Burns Matteson Capital Management LLC now owns 26,878 shares of the construction company’s stock valued at $309,000 after purchasing an additional 1,902 shares during the last quarter. Euro Pacific Asset Management LLC raised its holdings in Cemex by 15.5% during the 4th quarter. Euro Pacific Asset Management LLC now owns 12,707 shares of the construction company’s stock valued at $150,000 after buying an additional 1,707 shares during the period. Kathmere Capital Management LLC lifted its position in Cemex by 58.9% in the fourth quarter. Kathmere Capital Management LLC now owns 45,968 shares of the construction company’s stock worth $528,000 after buying an additional 17,031 shares during the last quarter. Sax Wealth Advisors LLC purchased a new position in Cemex during the fourth quarter worth $162,000. Finally, SG Americas Securities LLC purchased a new position in Cemex during the fourth quarter worth $325,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
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.