Ternium (NYSE:TX) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why
by Michael Walen · The Markets DailyTernium S.A. (NYSE:TX – Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $38.90 and traded as high as $41.55. Ternium shares last traded at $41.3860, with a volume of 139,051 shares traded.
Analysts Set New Price Targets
A number of research analysts recently commented on TX shares. Wells Fargo & Company reduced their price target on Ternium from $34.00 to $33.00 and set an “underweight” rating for the company in a report on Thursday, February 19th. Weiss Ratings upgraded Ternium from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Scotiabank reaffirmed a “sector perform” rating and issued a $40.00 target price on shares of Ternium in a research report on Thursday, March 26th. UBS Group increased their target price on Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Finally, Zacks Research lowered shares of Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.25.
Read Our Latest Research Report on Ternium
Ternium Stock Performance
The company has a fifty day moving average of $41.22 and a two-hundred day moving average of $38.95. The stock has a market capitalization of $8.39 billion, a P/E ratio of 19.37 and a beta of 1.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.49 and a quick ratio of 1.45.
Ternium (NYSE:TX – Get Free Report) last released its earnings results on Saturday, February 14th. The basic materials company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.15). The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. Ternium had a return on equity of 3.06% and a net margin of 2.72%.The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.42) EPS. On average, equities analysts anticipate that Ternium S.A. will post 4.37 EPS for the current year.
Ternium Announces Dividend
The company also recently disclosed a dividend, which will be paid on Wednesday, May 20th. Investors of record on Thursday, May 14th will be paid a dividend of $0.90 per share. The ex-dividend date is Thursday, May 14th. This represents a yield of 413.0%. Ternium’s dividend payout ratio (DPR) is 83.33%.
Institutional Trading of Ternium
Several institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its position in shares of Ternium by 10.0% in the 4th quarter. Empowered Funds LLC now owns 95,129 shares of the basic materials company’s stock worth $3,633,000 after buying an additional 8,630 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Ternium during the 4th quarter valued at about $331,000. Numerai GP LLC grew its position in shares of Ternium by 206.4% during the 4th quarter. Numerai GP LLC now owns 40,743 shares of the basic materials company’s stock valued at $1,556,000 after buying an additional 27,447 shares during the last quarter. Millennium Management LLC raised its stake in Ternium by 386.4% during the fourth quarter. Millennium Management LLC now owns 76,026 shares of the basic materials company’s stock worth $2,903,000 after acquiring an additional 60,397 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in Ternium by 8.5% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,220 shares of the basic materials company’s stock worth $430,000 after acquiring an additional 883 shares during the last quarter. Institutional investors own 11.98% of the company’s stock.
About Ternium
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.