Shares of Ternium S.A. (NYSE:TX – Get Rating) were up 2.7% on Thursday . The stock traded as high as $29.73 and last traded at $29.72. Approximately 701 shares changed hands during trading, a decline of 100% from the average daily volume of 408,987 shares. The stock had previously closed at $28.93.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on TX shares. Bank of America cut Ternium from a "buy" rating to a "neutral" rating and dropped their target price for the company from $53.00 to $40.00 in a report on Friday, August 26th. Morgan Stanley dropped their price objective on Ternium from $48.00 to $39.00 and set an "equal weight" rating for the company in a report on Wednesday, July 6th. StockNews.com cut Ternium from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 3rd. Finally, The Goldman Sachs Group dropped their price objective on Ternium from $60.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, September 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.00.
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Ternium Trading Down 5.3 %
The company has a market cap of $5.59 billion, a PE ratio of 1.45 and a beta of 1.52. 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 50 day moving average price of $32.23 and a 200 day moving average price of $38.40.
Ternium (NYSE:TX – Get Rating) last released its earnings results on Tuesday, August 2nd. The basic materials company reported $4.07 EPS for the quarter, beating analysts' consensus estimates of $3.66 by $0.41. The company had revenue of $4.44 billion during the quarter, compared to analysts' expectations of $4.57 billion. Ternium had a return on equity of 29.94% and a net
margin of 21.37%. Sell-side analysts predict that Ternium S.A. will post 11.57 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in TX. Lazard Asset Management LLC increased its position in Ternium by 140.6% during the 2nd quarter. Lazard Asset Management LLC now owns 2,552,566 shares of the basic materials company's stock valued at $92,121,000 after buying an additional 1,491,647 shares in the last quarter. Schroder Investment Management Group increased its position in Ternium by 5.8% during the 4th quarter. Schroder Investment Management Group now owns 2,075,788 shares of the basic materials company's stock valued at $9,033,000 after buying an additional 114,543 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in Ternium by 18.0% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,383,756 shares of the basic materials company's stock valued at $49,940,000 after buying an additional 211,356 shares in the last quarter. Contrarian Capital Management L.L.C. increased its position in Ternium by 2.7% during the 2nd quarter. Contrarian Capital Management L.L.C. now owns 934,581 shares of the basic materials company's stock valued at $33,729,000 after buying an additional 24,366 shares in the last quarter. Finally, Cape Ann Asset Management Ltd increased its position in Ternium by 2.1% during the 1st quarter. Cape Ann Asset Management Ltd now owns 814,085 shares of the basic materials company's stock valued at $37,163,000 after buying an additional 16,500 shares in the last quarter. Hedge funds and other institutional investors own 11.23% of the company's stock.
Ternium Company Profile
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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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