Ternium (NYSE:TX) Sees Unusually-High Trading Volume

Ternium S.A. (NYSE:TX) saw unusually-high trading volume on Monday . Approximately 157,336 shares traded hands during mid-day trading, a decline of 7% from the previous session’s volume of 169,795 shares.The stock last traded at $43.00 and had previously closed at $42.60.

Analyst Ratings Changes

TX has been the subject of several recent research reports. The Goldman Sachs Group lifted their price target on Ternium from $49.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. TheStreet upgraded shares of Ternium from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ternium from $48.00 to $51.50 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ternium currently has a consensus rating of “Buy” and an average target price of $50.83.

Ternium Price Performance

The company has a quick ratio of 1.86, a current ratio of 3.17 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $8.49 billion, a PE ratio of 12.31 and a beta of 1.69. The stock has a 50-day moving average price of $40.32 and a 200 day moving average price of $39.50.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.32 by $0.79. The company had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.94 billion. Ternium had a net margin of 3.84% and a return on equity of 10.84%. The firm’s revenue was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 EPS. Equities analysts forecast that Ternium S.A. will post 6.91 EPS for the current fiscal year.

Ternium Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, May 3rd will be given a dividend of $2.20 per share. This represents a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from Ternium’s previous Semi-Annual dividend of $1.10. Ternium’s dividend payout ratio is 63.95%.

Hedge Funds Weigh In On Ternium

Hedge funds have recently made changes to their positions in the company. Citigroup Inc. acquired a new position in Ternium during the first quarter worth about $85,000. Sei Investments Co. lifted its position in Ternium by 6.0% during the first quarter. Sei Investments Co. now owns 150,775 shares of the basic materials company’s stock worth $6,883,000 after buying an additional 8,595 shares in the last quarter. XTX Topco Ltd acquired a new position in Ternium during the first quarter worth $201,000. Employees Retirement System of Texas grew its holdings in Ternium by 12.4% in the 1st quarter. Employees Retirement System of Texas now owns 61,459 shares of the basic materials company’s stock valued at $2,806,000 after buying an additional 6,781 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Ternium by 6,399.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,060,919 shares of the basic materials company’s stock worth $48,429,000 after acquiring an additional 1,044,596 shares during the last quarter. Institutional investors and hedge funds own 11.98% of the company’s stock.

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.