Ternium S.A. (NYSE:TX – Get Rating) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 332,200 shares, a decline of 35.9% from the August 15th total of 518,400 shares. Based on an average daily volume of 432,400 shares, the short-interest ratio is currently 0.8 days. Currently, 0.2% of the shares of the stock are short sold.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. StockNews.com lowered shares of Ternium from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 3rd. The Goldman Sachs Group reduced their target price on shares of Ternium from $60.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, September 6th. Morgan Stanley reduced their target price on shares of Ternium from $48.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 6th. Finally, Bank of America downgraded shares of Ternium from a "buy" rating to a "neutral" rating and reduced their target price for the company from $53.00 to $40.00 in a research note on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $47.00.
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Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in TX. Goldman Sachs Group Inc. bought a new position in Ternium during the 2nd quarter worth about $466,000. Atlas Capital Advisors LLC bought a new position in Ternium during the 2nd quarter worth about $138,000. Sei Investments Co. boosted its holdings in shares of Ternium by 45.8% in the 2nd quarter. Sei Investments Co. now owns 219,798 shares of the basic materials company's stock valued at $7,933,000 after buying an additional 69,023 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Ternium by 2.9% in the 2nd quarter. Wells Fargo & Company MN now owns 87,383 shares of the basic materials company's stock valued at $3,153,000 after buying an additional 2,422 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Ternium by 95.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,225 shares of the basic materials company's stock valued at $333,000 after buying an additional 4,494 shares in the last quarter. 11.23% of the stock is currently owned by institutional investors.
Ternium Trading Down 3.6 %
NYSE TX opened at $30.37 on Wednesday. The company's 50-day moving average price is $32.98 and its 200-day moving average price is $39.01. The company has a current ratio of 3.50, a quick ratio of 1.74 and a debt-to-equity ratio of 0.05. The stock has a market cap of $6.09 billion, a PE ratio of 1.58 and a beta of 1.52. Ternium has a 12 month low of $28.72 and a 12 month high of $53.14.
About Ternium
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Ternium SA manufactures, processes, and sells various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates through two segments, Steel and Mining. The Steel segment offers slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron products; and sells energy.
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