Cemex (NYSE:CX) Stock Passes Above 200-Day Moving Average – Should You Sell?

Cemex S.A.B. de C.V. (NYSE:CX)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.10 and traded as high as $12.46. Cemex shares last traded at $12.41, with a volume of 5,587,940 shares.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CX. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.75 target price on shares of Cemex in a research report on Friday, April 24th. JPMorgan Chase & Co. upped their price target on Cemex from $14.00 to $14.50 and gave the company an “overweight” rating in a research report on Friday, April 24th. Wall Street Zen upgraded Cemex from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Morgan Stanley raised shares of Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Monday, March 23rd. Finally, Scotiabank boosted their target price on shares of Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a research note on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.77.

Cemex Stock Up 3.2%

The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $12.60 and its 200 day moving average price is $12.10. The firm has a market cap of $17.98 billion, a P/E ratio of 38.78 and a beta of 1.51.

Cemex (NYSE:CX) last issued its quarterly earnings data on Tuesday, March 31st. The construction company reported $0.16 earnings per share for the quarter. Cemex had a net margin of 2.74% and a return on equity of 3.64%. As a group, research analysts expect that Cemex S.A.B. de C.V. will post 0.91 earnings per share for the current year.

Cemex Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be paid a $0.0312 dividend. The ex-dividend date is Wednesday, June 17th. This is an increase from Cemex’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a dividend yield of 1.0%. Cemex’s dividend payout ratio (DPR) is 37.50%.

Insider Buying and Selling at Cemex

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of Cemex stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $12.16, for a total transaction of $425,600.00. Following the sale, the insider owned 846,010 shares of the company’s stock, valued at approximately $10,287,481.60. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Cemex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its position in Cemex by 15.7% in the 1st quarter. Parallel Advisors LLC now owns 20,119 shares of the construction company’s stock valued at $230,000 after acquiring an additional 2,729 shares during the period. Bank of America Corp DE boosted its position in Cemex by 31.8% during the 1st quarter. Bank of America Corp DE now owns 1,916,167 shares of the construction company’s stock worth $21,921,000 after acquiring an additional 462,848 shares during the period. Amundi grew its stake in shares of Cemex by 9.3% in the first quarter. Amundi now owns 3,115,879 shares of the construction company’s stock worth $35,646,000 after purchasing an additional 264,248 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Cemex by 5.1% in the first quarter. Quantinno Capital Management LP now owns 143,677 shares of the construction company’s stock worth $1,644,000 after purchasing an additional 6,911 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Cemex by 14.4% during the first quarter. Lazard Asset Management LLC now owns 4,046,527 shares of the construction company’s stock valued at $46,292,000 after purchasing an additional 508,016 shares during the period. 82.97% of the stock is owned by institutional investors.

About Cemex

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.