Ternium S.A. (NYSE:TX) Short Interest Down 18.9% in November
Ternium S.A. (NYSE:TX – Get Free Report) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 169,400 shares, a drop of 18.9% from the October 31st total of 208,800 shares. Based on an average daily trading volume, of 173,300 shares, the days-to-cover ratio is currently 1.0 days.
Institutional Investors Weigh In On Ternium
Several large investors have recently added to or reduced their stakes in the business. Fortis Capital Advisors LLC raised its position in Ternium by 1,971.9% during the first quarter. Fortis Capital Advisors LLC now owns 663 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 631 shares in the last quarter. Captrust Financial Advisors raised its position in Ternium by 100.0% during the first quarter. Captrust Financial Advisors now owns 1,000 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 500 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in Ternium during the fourth quarter valued at about $46,000. Citigroup Inc. purchased a new stake in Ternium during the first quarter valued at about $85,000. Finally, Penserra Capital Management LLC raised its position in Ternium by 50.3% during the fourth quarter. Penserra Capital Management LLC now owns 1,944 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 651 shares in the last quarter. Institutional investors own 12.07% of the company’s stock.
Ternium Stock Performance
Shares of Ternium stock traded up $0.81 during trading hours on Friday, reaching $40.34. The company had a trading volume of 305,258 shares, compared to its average volume of 196,090. Ternium has a one year low of $28.47 and a one year high of $45.81. The business has a fifty day simple moving average of $37.80 and a 200 day simple moving average of $39.81. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.25 and a quick ratio of 1.94. The firm has a market cap of $7.92 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 3.20 and a beta of 1.64.
Ternium (NYSE:TX – Get Free Report) last posted its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.23). The business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $3.80 billion. Ternium had a net margin of 1.86% and a return on equity of 8.87%. On average, analysts anticipate that Ternium will post 7.98 earnings per share for the current fiscal year.
Ternium Cuts Dividend
The firm also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, November 21st. Investors of record on Monday, November 13th were paid a dividend of $1.10 per share. This represents a yield of 7.9%. The ex-dividend date was Friday, November 10th. Ternium’s dividend payout ratio is 143.79%.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Bank of America raised Ternium from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Monday, November 20th. JPMorgan Chase & Co. raised their target price on Ternium from $51.50 to $53.50 and gave the stock an “overweight” rating in a research report on Monday, August 21st. StockNews.com initiated coverage on Ternium in a research report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Finally, TheStreet lowered Ternium from a “b” rating to a “c+” rating in a report on Friday, November 3rd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ternium presently has an average rating of “Buy” and a consensus target price of $49.42.
Check Out Our Latest Analysis on TX
About Ternium (Get Free Report)
Ternium SA, together with its subsidiaries, manufactures, processes, and sells 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 through two segments, Steel and Mining.
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Original: MarketBeat News Feed: Ternium S.A. (NYSE:TX) Short Interest Down 18.9% in November