Ternium (NYSE:TX) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Ternium (NYSE:TX) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

TX has been the subject of several other reports. Hsbc Global Res raised Ternium to a “strong-buy” rating in a report on Friday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of Ternium from $39.00 to $40.50 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Wall Street Zen cut shares of Ternium from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. HSBC set a $41.00 target price on shares of Ternium and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ternium in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Ternium currently has a consensus rating of “Moderate Buy” and an average target price of $35.56.

Ternium Stock Up 2.5%

Shares of TX opened at $39.15 on Wednesday. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 13.18 and a beta of 1.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.46. The business’s fifty day moving average price is $37.13 and its two-hundred day moving average price is $34.50. Ternium has a 52 week low of $24.00 and a 52 week high of $39.33.

Ternium (NYSE:TX) last released its earnings results on Tuesday, October 28th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.68). The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.02 billion. Ternium had a return on equity of 1.89% and a net margin of 3.72%.The company’s revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. On average, analysts predict that Ternium will post 4.37 earnings per share for the current year.

Ternium Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were given a $0.90 dividend. The ex-dividend date was Monday, November 10th. This represents a dividend yield of 503.0%. Ternium’s dividend payout ratio is currently 60.61%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in Ternium by 142.1% in the third quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 736 shares during the period. Advisory Services Network LLC bought a new position in shares of Ternium during the 3rd quarter valued at about $38,000. Morningstar Investment Management LLC acquired a new position in shares of Ternium in the 3rd quarter valued at approximately $754,000. Numerai GP LLC grew its position in shares of Ternium by 15.9% in the 3rd quarter. Numerai GP LLC now owns 13,296 shares of the basic materials company’s stock valued at $462,000 after purchasing an additional 1,825 shares during the period. Finally, Mariner LLC bought a new stake in Ternium during the 3rd quarter worth approximately $362,000. 11.98% of the stock is currently owned by institutional investors.

About Ternium

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.