Ternium (NYSE:TX) Reaches New 1-Year High – Still a Buy?

Shares of Ternium S.A. (NYSE:TX) reached a new 52-week high on Wednesday . The company traded as high as $45.32 and last traded at $44.46, with a volume of 72984 shares. The stock had previously closed at $44.22.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Ternium in a research report on Wednesday, January 21st. Zacks Research cut Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Wells Fargo & Company boosted their target price on Ternium from $30.00 to $34.00 and gave the company an “underweight” rating in a report on Wednesday, January 21st. Wall Street Zen downgraded Ternium from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Ternium from $39.00 to $40.50 and gave the company an “overweight” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.06.

Ternium Stock Performance

The company has a current ratio of 2.46, a quick ratio of 1.42 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.92 billion, a PE ratio of 14.98 and a beta of 1.34. The stock’s 50 day moving average price is $40.41 and its two-hundred day moving average price is $36.69.

Institutional Trading of Ternium

Large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its holdings in Ternium by 4.6% in the 2nd quarter. Lazard Asset Management LLC now owns 5,358,772 shares of the basic materials company’s stock valued at $161,298,000 after purchasing an additional 237,741 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Ternium by 10.1% during the second quarter. Donald Smith & CO. Inc. now owns 3,412,385 shares of the basic materials company’s stock worth $102,713,000 after buying an additional 312,595 shares in the last quarter. Aberdeen Group plc acquired a new position in shares of Ternium in the second quarter valued at approximately $258,000. Oaktree Capital Management LP boosted its position in Ternium by 13.2% during the second quarter. Oaktree Capital Management LP now owns 919,709 shares of the basic materials company’s stock worth $27,683,000 after acquiring an additional 107,100 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in Ternium by 11.0% in the 2nd quarter. Schroder Investment Management Group now owns 2,177,525 shares of the basic materials company’s stock worth $65,544,000 after acquiring an additional 216,301 shares during the period. Institutional investors and hedge funds own 11.98% of the company’s stock.

Ternium Company Profile

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.