NEW YORK (TheStreet) -- Shares of Cemex (CX - Get Report) were down in mid-morning trading on Monday after agreeing to sell its Ohio cement plant and cement terminal to Eagle Materials (EXP) for $400 million.
The proceeds will be used for debt reduction and "general corporate purposes," the Mexican cement company said in a statement.
Cemex expects the transaction to close in the 2016 fourth quarter or shortly after.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C-.
Cemex's strengths such as its impressive record of earnings per share growth, revenue growth and solid stock price performance. However, as a counter to these strengths, we find that the company's profit margins have been poor overall.
You can view the full analysis from the report here: CX
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.