Ternium (NYSE:TX) Reaches New 12-Month High – What’s Next?

Ternium S.A. (NYSE:TX) shares reached a new 52-week high on Wednesday . The company traded as high as $38.23 and last traded at $37.9160, with a volume of 29841 shares traded. The stock had previously closed at $37.68.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TX. Wells Fargo & Company upgraded shares of Ternium to a “strong sell” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. lifted their price objective on Ternium from $39.00 to $40.50 and gave the stock an “overweight” rating in a report on Friday, October 17th. HSBC set a $41.00 price objective on shares of Ternium and gave the company a “buy” rating in a report on Friday, October 17th. Wall Street Zen downgraded shares of Ternium from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Scotiabank cut their price objective on shares of Ternium from $41.00 to $40.00 and set a “sector outperform” rating for the company in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ternium has a consensus rating of “Hold” and an average price target of $34.69.

Ternium Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.46. The firm’s 50 day moving average is $36.13 and its 200-day moving average is $33.10. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of 12.93 and a beta of 1.36.

Ternium (NYSE:TX) last posted its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.68). Ternium had a return on equity of 1.89% and a net margin of 3.72%.The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. Sell-side analysts anticipate that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

Ternium Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a dividend yield of 503.0%. Ternium’s payout ratio is 60.61%.

Hedge Funds Weigh In On Ternium

A number of large investors have recently modified their holdings of TX. Cetera Investment Advisers lifted its position in Ternium by 10.1% during the first quarter. Cetera Investment Advisers now owns 9,671 shares of the basic materials company’s stock valued at $301,000 after purchasing an additional 890 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Ternium by 2.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,099,790 shares of the basic materials company’s stock worth $96,589,000 after acquiring an additional 76,987 shares in the last quarter. Boston Partners increased its position in Ternium by 4.1% during the 1st quarter. Boston Partners now owns 20,994 shares of the basic materials company’s stock valued at $654,000 after buying an additional 827 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Ternium by 12.4% in the first quarter. State of New Jersey Common Pension Fund D now owns 92,528 shares of the basic materials company’s stock worth $2,883,000 after acquiring an additional 10,193 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in Ternium by 201,700.0% in the 1st quarter. Brooklyn Investment Group now owns 2,018 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 2,017 shares in the last quarter. 11.98% of the stock is currently owned by institutional investors and hedge funds.

About Ternium

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.