Ternium (NYSE:TX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Ternium (NYSE:TX) from a hold rating to a buy rating in a report published on Wednesday morning.

Ternium Price Performance

Ternium stock opened at $36.40 on Wednesday. Ternium has a 52 week low of $30.68 and a 52 week high of $44.44. The company’s 50 day moving average price is $34.83 and its two-hundred day moving average price is $37.11. The company has a quick ratio of 1.57, a current ratio of 2.74 and a debt-to-equity ratio of 0.09. The stock has a market cap of $7.15 billion, a P/E ratio of -10.31, a P/E/G ratio of 0.21 and a beta of 1.77.

Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Ternium had a negative net margin of 3.57% and a positive return on equity of 6.08%. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the business earned $1.38 EPS. Ternium’s revenue was down 13.6% compared to the same quarter last year. On average, equities analysts predict that Ternium will post 4.41 earnings per share for the current year.

Ternium Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, November 21st. Stockholders of record on Monday, November 18th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, November 18th. Ternium’s dividend payout ratio (DPR) is -124.65%.

Hedge Funds Weigh In On Ternium

Several hedge funds and other institutional investors have recently modified their holdings of TX. GSA Capital Partners LLP bought a new position in Ternium in the first quarter worth approximately $1,064,000. SG Americas Securities LLC purchased a new position in Ternium during the first quarter valued at $107,000. Inspire Investing LLC increased its position in Ternium by 17.6% during the first quarter. Inspire Investing LLC now owns 36,320 shares of the basic materials company’s stock worth $1,512,000 after purchasing an additional 5,448 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Ternium by 2.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 40,751 shares of the basic materials company’s stock valued at $1,699,000 after purchasing an additional 1,067 shares during the period. Finally, Quadrature Capital Ltd lifted its position in shares of Ternium by 17.5% during the 1st quarter. Quadrature Capital Ltd now owns 21,934 shares of the basic materials company’s stock worth $914,000 after buying an additional 3,271 shares during the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

About Ternium

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.