Ternium (NYSE:TX) Receives Sector Perform Rating from Scotiabank

Scotiabank reissued their sector perform rating on shares of Ternium (NYSE:TX) in a report issued on Thursday, MarketBeat.com reports. Scotiabank currently has a $40.00 target price on the basic materials company’s stock.

Several other analysts also recently issued reports on the company. Weiss Ratings upgraded Ternium from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Zacks Research downgraded Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Wells Fargo & Company lowered their target price on Ternium from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Thursday, February 19th. Finally, UBS Group raised their target price on Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.94.

Ternium Price Performance

TX opened at $38.59 on Thursday. The company has a quick ratio of 1.45, a current ratio of 2.49 and a debt-to-equity ratio of 0.12. Ternium has a 52-week low of $24.00 and a 52-week high of $45.57. The company has a 50 day moving average of $41.80 and a two-hundred day moving average of $38.53. The company has a market cap of $7.74 billion, a P/E ratio of 17.86 and a beta of 1.32.

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

Ternium Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, May 14th will be paid 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 payout ratio is 83.33%.

Hedge Funds Weigh In On Ternium

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TX. Allianz Asset Management GmbH lifted its stake in shares of Ternium by 64.7% in the third quarter. Allianz Asset Management GmbH now owns 58,115 shares of the basic materials company’s stock worth $2,018,000 after acquiring an additional 22,823 shares in the last quarter. Lazard Asset Management LLC grew its stake in Ternium by 4.6% during the 2nd quarter. Lazard Asset Management LLC now owns 5,358,772 shares of the basic materials company’s stock valued at $161,298,000 after purchasing an additional 237,741 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in Ternium by 10.1% during 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 purchasing an additional 312,595 shares in the last quarter. Oaktree Capital Management LP increased its holdings in Ternium by 13.2% during the 2nd 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 last quarter. Finally, Schroder Investment Management Group raised its position in shares of Ternium by 11.0% in the 2nd quarter. Schroder Investment Management Group now owns 2,177,525 shares of the basic materials company’s stock valued at $65,544,000 after purchasing an additional 216,301 shares in the last quarter. 11.98% of the stock is owned by hedge funds and other institutional investors.

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.