Ternium S.A. (NYSE:TX) Sees Large Drop in Short Interest

Ternium S.A. (NYSE:TXGet Rating) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totalling 432,800 shares, a decrease of 49.1% from the April 15th total of 850,500 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 687,300 shares, the short-interest ratio is presently 0.6 days.

Several research firms have recently issued reports on TX. Wolfe Research raised Ternium from an “underperform” rating to a “peer perform” rating and upped their target price for the company from $38.00 to $43.00 in a report on Friday, March 11th. Zacks Investment Research raised Ternium from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 21st. Finally, StockNews.com assumed coverage on shares of Ternium in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $57.60.

Several hedge funds and other institutional investors have recently modified their holdings of TX. Optimum Investment Advisors boosted its stake in Ternium by 33.3% in the first quarter. Optimum Investment Advisors now owns 1,000 shares of the basic materials company’s stock worth $46,000 after buying an additional 250 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Ternium by 2.9% in the 3rd quarter. Truist Financial Corp now owns 9,676 shares of the basic materials company’s stock valued at $409,000 after purchasing an additional 277 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in shares of Ternium by 3.8% during the 3rd quarter. Personal CFO Solutions LLC now owns 8,040 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 298 shares during the last quarter. First Horizon Advisors Inc. raised its position in Ternium by 1,980.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 416 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 396 shares during the period. Finally, Profund Advisors LLC lifted its stake in Ternium by 3.8% in the first quarter. Profund Advisors LLC now owns 12,742 shares of the basic materials company’s stock worth $582,000 after purchasing an additional 469 shares during the last quarter. 12.28% of the stock is owned by institutional investors.

NYSE TX opened at $39.21 on Friday. The firm has a market cap of $7.86 billion, a P/E ratio of 1.93 and a beta of 1.56. The company has a quick ratio of 1.86, a current ratio of 3.20 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $44.13 and its 200-day moving average is $42.74. Ternium has a 12-month low of $32.46 and a 12-month high of $56.86.

Ternium (NYSE:TXGet Rating) last issued its earnings results on Tuesday, April 26th. The basic materials company reported $3.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $1.03. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Ternium had a net margin of 23.32% and a return on equity of 34.27%. During the same quarter in the previous year, the firm posted $3.07 EPS. Equities analysts expect that Ternium will post 10.62 EPS for the current year.

The firm also recently declared an annual dividend, which will be paid on Monday, May 16th. Stockholders of record on Friday, May 6th will be given a dividend of $1.80 per share. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend is Thursday, May 5th. This is an increase from Ternium’s previous annual dividend of $0.80. Ternium’s dividend payout ratio (DPR) is 8.84%.

About Ternium (Get Rating)

Ternium SA manufactures, processes, and sells various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates through two segments, Steel and Mining. The Steel segment offers slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron products; and sells energy.

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