Ternium (NYSE:TX) Given New $34.00 Price Target at Wells Fargo & Company

Ternium (NYSE:TX) had its target price upped by Wells Fargo & Company from $30.00 to $34.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the basic materials company’s stock.

A number of other equities analysts also recently issued reports on the company. UBS Group increased their price target on Ternium from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ternium in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on Ternium from $39.00 to $40.50 and gave the company an “overweight” rating in a research note on Friday, October 17th. HSBC set a $41.00 price target on shares of Ternium and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Hsbc Global Res raised shares of Ternium to a “strong-buy” rating in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ternium currently has a consensus rating of “Moderate Buy” and an average price target of $36.06.

Ternium Trading Up 2.5%

Shares of NYSE TX opened at $43.37 on Wednesday. Ternium has a fifty-two week low of $24.00 and a fifty-two week high of $43.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.46. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 14.60 and a beta of 1.36. The business’s 50 day moving average price is $38.42 and its 200-day moving average price is $35.49.

Ternium (NYSE:TX) last announced its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.68). The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.02 billion. Ternium had a net margin of 3.72% and a return on equity of 1.89%. The business’s revenue was down 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. On average, sell-side analysts expect that Ternium will post 4.37 earnings per share for the current year.

Ternium Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were issued a $0.90 dividend. This represents a dividend yield of 503.0%. The ex-dividend date of this dividend was Monday, November 10th. Ternium’s dividend payout ratio (DPR) is currently 60.61%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC increased its position in Ternium by 8.5% during the third quarter. Lazard Asset Management LLC now owns 5,813,570 shares of the basic materials company’s stock worth $201,905,000 after purchasing an additional 454,798 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in shares of Ternium by 10.1% in the 2nd quarter. Donald Smith & CO. Inc. now owns 3,412,385 shares of the basic materials company’s stock valued at $102,713,000 after buying an additional 312,595 shares during the period. Schroder Investment Management Group increased its holdings in shares of Ternium by 11.0% during the 2nd quarter. Schroder Investment Management Group now owns 2,177,525 shares of the basic materials company’s stock worth $65,544,000 after buying an additional 216,301 shares during the last quarter. Ninety One North America Inc. raised its position in shares of Ternium by 23.4% during the 2nd quarter. Ninety One North America Inc. now owns 1,023,049 shares of the basic materials company’s stock valued at $30,794,000 after buying an additional 194,174 shares during the period. Finally, Ninety One UK Ltd raised its position in shares of Ternium by 5.2% during the 2nd quarter. Ninety One UK Ltd now owns 2,407,110 shares of the basic materials company’s stock valued at $72,454,000 after buying an additional 118,595 shares during the period. Hedge funds and other 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.