Ternium (NYSE:TX) Upgraded by Bank of America to “Buy” Rating

Bank of America upgraded shares of Ternium (NYSE:TX) from a neutral rating to a buy rating in a research report released on Monday morning, MarketBeat reports. They currently have $46.00 target price on the basic materials company’s stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company lowered their price target on Ternium from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Thursday, February 19th. Zacks Research cut Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. UBS Group upped their price target on Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Scotiabank reaffirmed a “sector perform” rating and issued a $40.00 price target on shares of Ternium in a research note on Thursday, March 26th. Finally, Weiss Ratings raised Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ternium has a consensus rating of “Hold” and an average target price of $39.36.

Ternium Stock Performance

Shares of NYSE:TX opened at $43.00 on Monday. The stock has a market capitalization of $8.62 billion, a P/E ratio of 19.91 and a beta of 1.27. Ternium has a 1-year low of $26.44 and a 1-year high of $45.57. 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 business has a 50-day moving average price of $41.22 and a two-hundred day moving average price of $39.07.

Ternium (NYSE:TX) last announced its quarterly earnings data on Saturday, February 14th. The basic materials company reported $0.62 earnings per share for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.42) earnings per share. Equities analysts predict that Ternium will post 4.37 earnings per share for the current year.

Ternium Announces Dividend

The firm also recently announced 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. This represents a yield of 413.0%. The ex-dividend date of this dividend is Thursday, May 14th. Ternium’s dividend payout ratio is presently 83.33%.

Institutional Trading of Ternium

A number of large investors have recently bought and sold shares of TX. EverSource Wealth Advisors LLC increased its stake in Ternium by 49.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 232 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Ternium during the 4th quarter worth approximately $36,000. GAMMA Investing LLC increased its stake in Ternium by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Camelot Portfolios LLC bought a new stake in Ternium during the 4th quarter worth approximately $38,000. Finally, Advisory Services Network LLC bought a new stake in Ternium during the 3rd quarter worth approximately $38,000. 11.98% of the stock is owned by institutional investors.

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.