Ternium S.A. (NYSE:TX – Get Rating) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 1,010,000 shares, a decrease of 32.7% from the February 28th total of 1,500,000 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 782,100 shares, the days-to-cover ratio is presently 1.3 days.
A number of hedge funds have recently modified their holdings of the business. Avondale Wealth Management purchased a new stake in shares of Ternium in the fourth quarter valued at about $28,000. First Horizon Advisors Inc. increased its position in Ternium by 1,980.0% during the third quarter. First Horizon Advisors Inc. now owns 416 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 396 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in Ternium during the third quarter worth approximately $38,000. Edmond DE Rothschild Holding S.A. acquired a new position in Ternium during the fourth quarter worth approximately $39,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Ternium in the third quarter worth $47,000. 14.00% of the stock is owned by institutional investors.
Shares of TX stock opened at $45.81 on Tuesday. The company has a current ratio of 2.68, a quick ratio of 1.46 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $41.33 and its 200-day simple moving average is $42.58. Ternium has a 12-month low of $32.46 and a 12-month high of $56.86. The company has a market cap of $9.18 billion, a PE ratio of 2.35 and a beta of 1.60.
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Ternium (NYSE:TX – Get Rating) last posted its quarterly earnings results on Tuesday, February 15th. The basic materials company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.94 by $0.14. Ternium had a net margin of 23.77% and a return on equity of 35.97%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the company earned $2.11 earnings per share. On average, equities analysts forecast that Ternium will post 9.07 earnings per share for the current year.
The company also recently declared an annual dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, May 6th will be issued a dividend of $1.80 per share. The ex-dividend date of this dividend is Thursday, May 5th. This represents a dividend yield of 5.9%. This is an increase from Ternium’s previous annual dividend of $0.80. Ternium’s dividend payout ratio (DPR) is currently 4.11%.
TX has been the subject of several analyst reports. Wolfe Research upgraded Ternium from an “underperform” rating to a “peer perform” rating and increased their target price for the company from $38.00 to $43.00 in a report on Friday, March 11th. Scotiabank raised Ternium from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the stock from $63.00 to $61.00 in a research report on Monday, December 20th. Zacks Investment Research lowered Ternium from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 16th. StockNews.com raised Ternium from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 14th. Finally, The Goldman Sachs Group started coverage on Ternium in a research note on Friday, December 10th. They set a “buy” rating and a $57.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ternium presently has a consensus rating of “Buy” and an average price target of $57.60.
Ternium Company Profile (Get Rating)
Ternium SA engages in the manufacturing and trade of steel products. The firm offers its products to construction, automotive, manufacturing, home appliances, packaging, energy, and transport industries. It operates through the Steel and Mining segments. The Steel segment include slabs, billets, and round bars; hot-rolled coils and sheets; bars and stirrups; wire rods; tin plate; hot dipped galvanized and electrogalvanized sheets; and pre-painted sheets, steel pipes, and tubular products.
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