Ternium S.A. (NYSE:TX) Short Interest Down 18.1% in October

by · The Cerbat Gem

Ternium S.A. (NYSE:TX – Get Free Report) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 656,000 shares, a drop of 18.1% from the October 15th total of 801,300 shares. Based on an average daily trading volume, of 179,800 shares, the short-interest ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Report on Ternium

Institutional Investors Weigh In On Ternium

Institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in Ternium during the 3rd quarter valued at approximately $6,743,000. State Street Corp boosted its position in shares of Ternium by 422.1% during the third quarter. State Street Corp now owns 174,572 shares of the basic materials company’s stock worth $6,443,000 after acquiring an additional 141,134 shares during the last quarter. Verition Fund Management LLC purchased a new position in Ternium during the third quarter valued at $244,000. Quantbot Technologies LP bought a new stake in Ternium in the 3rd quarter valued at $242,000. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Ternium by 155.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,714 shares of the basic materials company’s stock worth $728,000 after purchasing an additional 11,983 shares in the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

Ternium Stock Performance

NYSE TX traded up $0.77 on Friday, hitting $34.19. 203,644 shares of the company traded hands, compared to its average volume of 207,198. The company has a current ratio of 2.92, a quick ratio of 1.67 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $35.04 and its 200-day moving average price is $36.82. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 84.75, a P/E/G ratio of 0.24 and a beta of 1.77. Ternium has a 52-week low of $30.68 and a 52-week high of $44.44.

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

Ternium Cuts Dividend

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

Ternium Company Profile

(Get Free Report)

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.

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