Ternium SA (NYSE:TX) declared an annual dividend on Tuesday, March 13th, Wall Street Journal reports. Stockholders of record on Monday, May 7th will be paid a dividend of 1.10 per share by the basic materials company on Tuesday, May 15th. This represents a dividend yield of 3.28%. The ex-dividend date is Friday, May 4th. This is a boost from Ternium’s previous annual dividend of $0.90.
Ternium has raised its dividend payment by an average of 10.1% per year over the last three years. Ternium has a payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Ternium to earn $3.62 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 27.6%.
Ternium (NYSE TX) opened at $33.58 on Wednesday. The firm has a market cap of $6,824.14, a price-to-earnings ratio of 7.55 and a beta of 1.10. Ternium has a one year low of $22.78 and a one year high of $39.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.65 and a current ratio of 1.55.
A number of research analysts recently weighed in on the stock. Scotiabank set a $43.00 target price on shares of Ternium and gave the company a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research cut shares of Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 25th. Santander upgraded shares of Ternium from a “hold” rating to a “buy” rating in a research note on Monday, December 18th. Morgan Stanley upgraded shares of Ternium from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, December 6th. Finally, ValuEngine upgraded shares of Ternium from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 13th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $34.25.
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Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.
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