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

Cemex S.A.B. de C.V. (NYSE:CX) 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 traded.

Analysts Set New Price Targets

CX has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cemex in a research note on Tuesday, May 26th. Scotiabank boosted their target price on Cemex from $13.90 to $14.10 and gave the company an “outperform” rating in a research report on Friday, April 10th. Morgan Stanley upgraded Cemex from an “equal weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a report on Monday, March 23rd. Royal Bank Of Canada restated a “sector perform” rating and issued a $12.75 price target on shares of Cemex in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cemex from $14.00 to $14.50 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.77.

Cemex Trading Down 0.9%

The company’s 50 day simple moving average is $12.61 and its 200-day simple moving average is $12.10. The firm has a market cap of $17.78 billion, a P/E ratio of 38.35 and a beta of 1.51. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.35.

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

Cemex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Wednesday, June 17th will be given a $0.0312 dividend. This is a boost from Cemex’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.12 annualized dividend and a yield of 1.0%. Cemex’s dividend payout ratio is currently 37.50%.

Insiders Place Their Bets

In other news, insider Herrera Jesus Vicente Gonzalez sold 35,000 shares of Cemex stock in a transaction 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 completion of the sale, the insider directly owned 846,010 shares in the company, valued at approximately $10,287,481.60. This trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CX. Sequoia Financial Advisors LLC boosted its position in Cemex by 5.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 16,802 shares of the construction company’s stock valued at $193,000 after buying an additional 913 shares during the period. Ameriprise Financial Inc. increased its position 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 worth $2,875,000 after acquiring an additional 1,221 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 worth $329,000 after acquiring an additional 1,288 shares during the period. Ieq Capital LLC raised its stake in shares of Cemex by 7.6% during the fourth quarter. Ieq Capital LLC now owns 19,598 shares of the construction company’s stock valued at $225,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Cemex by 3.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 43,093 shares of the construction company’s stock valued at $387,000 after acquiring an additional 1,389 shares in the last quarter. 82.97% of the stock is currently 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.