Ternium (NYSE:TX) Trading 3.1% Higher – Here’s What Happened

Ternium S.A. (NYSE:TX)’s share price was up 3.1% during mid-day trading on Friday . The stock traded as high as $34.46 and last traded at $34.45. Approximately 30,538 shares were traded during trading, a decline of 85% from the average daily volume of 206,298 shares. The stock had previously closed at $33.42.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Ternium from a “buy” rating to a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ternium has a consensus rating of “Moderate Buy” and a consensus price target of $52.33.

Ternium Stock Performance

The company has a quick ratio of 1.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $35.04 and a 200-day moving average price of $36.82. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 83.60, a price-to-earnings-growth ratio of 0.24 and a beta of 1.77.

Ternium (NYSE:TX) last posted its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. Ternium had a net margin of 0.42% and a return on equity of 4.70%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the prior year, the company posted $1.38 earnings per share. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. On average, analysts expect that Ternium S.A. will post 3.7 earnings per share for the current fiscal year.

Ternium Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a yield of 8.5%. Ternium’s dividend payout ratio (DPR) is presently 1,100.03%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TX. Donald Smith & CO. Inc. purchased a new stake in Ternium during the second quarter worth approximately $50,566,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Ternium in the first quarter valued at about $5,426,000. Renaissance Technologies LLC raised its holdings in shares of Ternium by 43.0% during the 2nd quarter. Renaissance Technologies LLC now owns 258,600 shares of the basic materials company’s stock valued at $9,710,000 after buying an additional 77,800 shares during the period. Lazard Asset Management LLC lifted its position in Ternium by 1.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,196,107 shares of the basic materials company’s stock worth $133,021,000 after acquiring an additional 56,379 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Ternium by 22.0% in the 2nd quarter. Sei Investments Co. now owns 203,632 shares of the basic materials company’s stock worth $7,646,000 after acquiring an additional 36,722 shares during the period. 11.98% of the stock is owned by hedge funds and other institutional investors.

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.