Ternium (NYSE:TX) Reaches New 52-Week High – Here’s What Happened
by Amy Steele · The Cerbat GemTernium S.A. (NYSE:TX – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $42.32 and last traded at $42.21, with a volume of 185706 shares changing hands. The stock had previously closed at $41.70.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. HSBC set a $41.00 price objective on shares of Ternium and gave the stock a “buy” rating in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of Ternium in a report on Wednesday, October 8th. UBS Group lifted their price target on shares of Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. increased their price objective on shares of Ternium from $39.00 to $40.50 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Hsbc Global Res upgraded Ternium to a “strong-buy” rating in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ternium currently has a consensus rating of “Moderate Buy” and an average target price of $35.56.
Get Our Latest Stock Report on Ternium
Ternium Stock Performance
The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 14.23 and a beta of 1.36. The company’s fifty day simple moving average is $38.16 and its two-hundred day simple moving average is $35.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.46 and a quick ratio of 1.42.
Ternium (NYSE:TX – Get Free Report) last posted its earnings results on Tuesday, October 28th. The basic materials company reported $0.10 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 business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the firm earned $0.16 earnings per share. The company’s revenue was down 11.7% on a year-over-year basis. On average, analysts forecast that Ternium S.A. will post 4.37 earnings per share for the current year.
Ternium Dividend Announcement
The business also recently disclosed a dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were issued a dividend of $0.90 per share. This represents a yield of 503.0%. The ex-dividend date of this dividend was Monday, November 10th. Ternium’s payout ratio is currently 60.61%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of Ternium by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the basic materials company’s stock valued at $37,000 after buying an additional 303 shares during the last quarter. Advisory Services Network LLC bought a new position in Ternium during the 3rd quarter valued at $38,000. JPMorgan Chase & Co. lifted its stake in Ternium by 142.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 736 shares in the last quarter. Blue Trust Inc. boosted its holdings in Ternium by 17.5% during the 3rd quarter. Blue Trust Inc. now owns 2,247 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 335 shares during the last quarter. Finally, State of Wyoming purchased a new position in Ternium during the 2nd quarter worth $119,000. Institutional investors 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.