Ternium (NYSE:TX) Hits New 1-Year High After Strong Earnings

Ternium S.A. (NYSE:TX) shares hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $52.71 and last traded at $52.1610, with a volume of 15522 shares changing hands. The stock had previously closed at $50.34.

The basic materials company reported $1.80 EPS for the quarter. The business had revenue of $4.34 billion for the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TX. Wall Street Zen raised shares of Ternium from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Zacks Research cut shares of Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. Bradesco Corretora upgraded Ternium to an “outperform” rating and set a $62.00 price objective for the company in a research report on Tuesday, May 19th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $57.00 target price on shares of Ternium in a research note on Friday, May 22nd. Finally, Itau BBA Securities upgraded Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 target price on the stock in a report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TX. Amundi boosted its stake in shares of Ternium by 19.9% during the 1st quarter. Amundi now owns 703,304 shares of the basic materials company’s stock worth $28,238,000 after purchasing an additional 116,813 shares during the last quarter. Militia Capital Management LLC acquired a new position in shares of Ternium in the first quarter valued at approximately $1,486,000. Lazard Asset Management LLC raised its position in shares of Ternium by 8.0% in the first quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company’s stock valued at $254,395,000 after buying an additional 469,846 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Ternium by 69.4% during the first quarter. Empowered Funds LLC now owns 161,171 shares of the basic materials company’s stock valued at $6,471,000 after buying an additional 66,042 shares during the period. Finally, Empirical Finance LLC lifted its stake in shares of Ternium by 69.4% during the first quarter. Empirical Finance LLC now owns 161,171 shares of the basic materials company’s stock valued at $6,471,000 after buying an additional 66,042 shares during the period. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

Ternium Stock Performance

The stock’s 50-day moving average is $46.52 and its 200-day moving average is $43.86. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 0.18 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.63 and a quick ratio of 1.53.

Ternium Company Profile

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.