Ternium S.A. (NYSE:TX) Short Interest Update

Ternium S.A. (NYSE:TX) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 679,100 shares, a decrease of 20.6% from the August 15th total of 854,900 shares. Based on an average daily volume of 217,000 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analyst Weigh In

TX has been the subject of several recent analyst reports. StockNews.com upgraded Ternium from a “hold” rating to a “buy” rating in a report on Monday, August 19th. JPMorgan Chase & Co. increased their price target on Ternium from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, Ternium has an average rating of “Buy” and a consensus target price of $52.33.

Ternium Stock Up 2.9 %

NYSE TX traded up $0.93 during trading hours on Friday, hitting $33.35. 256,888 shares of the company traded hands, compared to its average volume of 163,242. Ternium has a twelve month low of $30.68 and a twelve month high of $44.44. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 0.14 and a beta of 1.76. The business’s 50-day moving average is $34.52 and its 200-day moving average is $38.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.57 and a current ratio of 2.74.

Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, July 30th. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($1.36). Ternium had a negative net margin of 3.57% and a positive return on equity of 6.08%. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that Ternium will post 7.01 earnings per share for the current year.

Hedge Funds Weigh In On Ternium

Large investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. bought a new position in Ternium during the 2nd quarter worth $50,566,000. Allspring Global Investments Holdings LLC increased its stake in shares of Ternium by 20,865.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 220,765 shares of the basic materials company’s stock valued at $9,188,000 after purchasing an additional 219,712 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Ternium by 277.7% in the 4th quarter. Allianz Asset Management GmbH now owns 196,082 shares of the basic materials company’s stock valued at $8,328,000 after purchasing an additional 144,171 shares during the last quarter. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Ternium in the 1st quarter valued at $5,426,000. Finally, Contrarian Capital Management L.L.C. increased its stake in shares of Ternium by 8.9% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 1,117,981 shares of the basic materials company’s stock valued at $47,481,000 after purchasing an additional 91,629 shares during the last quarter. Institutional investors own 11.98% of the company’s stock.

Ternium Company Profile

Ternium SA, together with its subsidiaries, manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally. It operates through three segments: Steel, Mining, and Usiminas. The Steel segment offers slabs, hot and cold rolled products, coated products, roll formed and tubular products, bars, billets, and other products.