Ternium (NYSE:TX) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Ternium S.A. (NYSE:TX)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.49 and traded as high as $38.96. Ternium shares last traded at $38.2910, with a volume of 95,530 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group raised their target price 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. Zacks Research cut shares of Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Wells Fargo & Company decreased their price objective on shares of Ternium from $34.00 to $33.00 and set an “underweight” rating for the company in a research report on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.94.

Ternium Stock Up 2.2%

The company has a current ratio of 2.49, a quick ratio of 1.45 and a debt-to-equity ratio of 0.12. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 17.73 and a beta of 1.32. The firm’s 50 day simple moving average is $41.97 and its two-hundred day simple moving average is $38.49.

Ternium (NYSE:TX) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.15). Ternium had a return on equity of 3.06% and a net margin of 2.72%.The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the previous year, the company earned ($0.42) EPS. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts forecast that Ternium S.A. will post 4.37 EPS for the current year.

Ternium Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, May 14th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a yield of 413.0%. Ternium’s dividend payout ratio is currently 83.33%.

Hedge Funds Weigh In On Ternium

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TX. Lazard Asset Management LLC lifted its position in shares of Ternium by 0.9% during the 4th quarter. Lazard Asset Management LLC now owns 5,866,281 shares of the basic materials company’s stock valued at $224,033,000 after acquiring an additional 52,711 shares during the period. Donald Smith & CO. Inc. increased its position in shares of Ternium by 1.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,808,645 shares of the basic materials company’s stock worth $145,452,000 after purchasing an additional 66,062 shares during the period. Schroder Investment Management Group raised its stake in Ternium by 4.7% in the third quarter. Schroder Investment Management Group now owns 2,279,273 shares of the basic materials company’s stock valued at $79,159,000 after purchasing an additional 101,748 shares in the last quarter. Cape Ann Asset Management Ltd raised its stake in Ternium by 20.5% in the fourth quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company’s stock valued at $40,812,000 after purchasing an additional 182,000 shares in the last quarter. Finally, Oaktree Capital Management LP lifted its position in Ternium by 13.2% during the second quarter. Oaktree Capital Management LP now owns 919,709 shares of the basic materials company’s stock worth $27,683,000 after purchasing an additional 107,100 shares during the period. 11.98% of the stock is owned by institutional investors and hedge funds.

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.