Ternium S.A. (NYSE:TX) Sees Significant Decrease in Short Interest

Ternium S.A. (NYSE:TX) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 656,000 shares, a decline of 18.1% from the October 15th total of 801,300 shares. Based on an average daily volume of 179,800 shares, the short-interest ratio is currently 3.6 days.

Ternium Trading Up 2.3 %

Shares of NYSE TX traded up $0.77 during trading hours on Friday, hitting $34.19. The company’s stock had a trading volume of 203,726 shares, compared to its average volume of 207,198. The business has a 50-day simple moving average of $35.08 and a 200-day simple moving average of $36.72. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 85.48, a P/E/G ratio of 0.24 and a beta of 1.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.67 and a current ratio of 2.92. Ternium has a 12 month low of $30.68 and a 12 month high of $44.44.

Ternium (NYSE:TX) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Ternium had a return on equity of 4.70% and a net margin of 0.42%. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the firm posted $1.38 earnings per share. The firm’s revenue was down 13.6% on a year-over-year basis. On average, analysts anticipate that Ternium will post 3.7 earnings per share for the current fiscal year.

Ternium Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be given a dividend of $0.09 per share. This represents a yield of 8.5%. The ex-dividend date of this dividend is Monday, November 18th. Ternium’s dividend payout ratio (DPR) is presently 450.00%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Ternium from a “buy” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Ternium currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.33.

Institutional Trading of Ternium

Several institutional investors have recently bought and sold shares of TX. Lazard Asset Management LLC increased its holdings in Ternium by 1.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,196,107 shares of the basic materials company’s stock worth $133,021,000 after buying an additional 56,379 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in shares of Ternium by 88.6% in the third quarter. Donald Smith & CO. Inc. now owns 2,539,751 shares of the basic materials company’s stock worth $93,742,000 after acquiring an additional 1,193,110 shares during the period. Ninety One UK Ltd raised its holdings in shares of Ternium by 0.6% during the second quarter. Ninety One UK Ltd now owns 1,691,042 shares of the basic materials company’s stock valued at $63,499,000 after purchasing an additional 10,375 shares during the last quarter. Victory Capital Management Inc. lifted its position in Ternium by 2.8% during the third quarter. Victory Capital Management Inc. now owns 687,432 shares of the basic materials company’s stock valued at $25,373,000 after purchasing an additional 18,967 shares during the period. Finally, Oldfield Partners LLP grew its position in Ternium by 1.9% in the 3rd quarter. Oldfield Partners LLP now owns 261,836 shares of the basic materials company’s stock worth $9,664,000 after purchasing an additional 4,800 shares during the period. 11.98% of the stock is owned by hedge funds and other institutional investors.

Ternium Company Profile

Ternium SA, together with its subsidiaries, manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally. It operates through three segments: Steel, Mining, and Usiminas. The Steel segment offers slabs, hot and cold rolled products, coated products, roll formed and tubular products, bars, billets, and other products.