Ternium SA (NYSE:TX) Short Interest Up 80.8% in November

Ternium SA (NYSE:TX) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 855,400 shares, an increase of 80.8% from the October 31st total of 473,100 shares. Based on an average trading volume of 395,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.4% of the company’s shares are short sold.

Several equities research analysts have recently commented on TX shares. Citigroup set a $19.00 target price on shares of Ternium and gave the stock a “hold” rating in a research report on Thursday, October 10th. Zacks Investment Research upgraded Ternium from a “sell” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, ValuEngine upgraded Ternium from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Ten investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $25.08.

Shares of NYSE TX traded down $0.18 on Thursday, reaching $22.02. 189,404 shares of the company’s stock traded hands, compared to its average volume of 359,588. The company has a quick ratio of 1.16, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 2.87, a price-to-earnings-growth ratio of 0.96 and a beta of 0.73. The business’s 50 day simple moving average is $21.05 and its two-hundred day simple moving average is $20.48. Ternium has a 12 month low of $16.12 and a 12 month high of $32.26.

Ternium (NYSE:TX) last announced its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Ternium had a return on equity of 11.07% and a net margin of 7.96%. The firm’s quarterly revenue was down 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.67 earnings per share. Analysts forecast that Ternium will post 2.94 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Oldfield Partners LLP raised its stake in shares of Ternium by 3.2% in the third quarter. Oldfield Partners LLP now owns 2,443,532 shares of the basic materials company’s stock worth $46,892,000 after purchasing an additional 75,500 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in shares of Ternium by 17.9% during the second quarter. Pictet Asset Management Ltd. now owns 766,349 shares of the basic materials company’s stock valued at $17,189,000 after buying an additional 116,371 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Ternium by 11.4% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 583,019 shares of the basic materials company’s stock valued at $13,078,000 after buying an additional 59,483 shares during the last quarter. Strategic Global Advisors LLC increased its holdings in Ternium by 7.3% in the 2nd quarter. Strategic Global Advisors LLC now owns 460,959 shares of the basic materials company’s stock worth $10,339,000 after buying an additional 31,188 shares in the last quarter. Finally, State Street Corp increased its holdings in Ternium by 81.7% in the 3rd quarter. State Street Corp now owns 445,088 shares of the basic materials company’s stock worth $8,541,000 after buying an additional 200,172 shares in the last quarter. 18.20% of the stock is currently owned by institutional investors.

Ternium Company Profile

Ternium SA, through its subsidiaries, manufactures and processes 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 in two segments, Steel and Mining. The Steel segment offers steel products, including 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; and sells energy.

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