Ternium SA (NYSE:TX) Short Interest Update

Ternium SA (NYSE:TX) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 408,800 shares, a growth of 14.5% from the June 30th total of 357,000 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 311,600 shares, the short-interest ratio is currently 1.3 days.

Several institutional investors have recently modified their holdings of the company. Prudential PLC raised its position in Ternium by 10.3% in the 2nd quarter. Prudential PLC now owns 2,033,422 shares of the basic materials company’s stock valued at $30,847,000 after purchasing an additional 189,937 shares during the last quarter. Dupont Capital Management Corp raised its position in Ternium by 5.4% during the 2nd quarter. Dupont Capital Management Corp now owns 280,407 shares of the basic materials company’s stock worth $4,254,000 after buying an additional 14,388 shares during the last quarter. DNB Asset Management AS raised its position in Ternium by 4.3% during the 2nd quarter. DNB Asset Management AS now owns 19,778 shares of the basic materials company’s stock worth $300,000 after buying an additional 823 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in Ternium by 5.2% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 226,525 shares of the basic materials company’s stock worth $2,695,000 after buying an additional 11,299 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Ternium by 10.4% during the 1st quarter. Royal Bank of Canada now owns 13,081 shares of the basic materials company’s stock worth $156,000 after buying an additional 1,234 shares during the last quarter. Institutional investors and hedge funds own 18.53% of the company’s stock.

Shares of Ternium stock opened at $14.41 on Friday. The company has a fifty day simple moving average of $15.10 and a 200-day simple moving average of $16.05. Ternium has a 12-month low of $9.59 and a 12-month high of $23.65. The company has a current ratio of 2.17, a quick ratio of 1.12 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 2.17 and a beta of 1.29.

TX has been the subject of a number of research reports. Citigroup upgraded shares of Ternium from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Monday, April 20th. JPMorgan Chase & Co. cut shares of Ternium from an “overweight” rating to a “neutral” rating and set a $18.50 price objective for the company. in a report on Monday, June 22nd. Goldman Sachs Group reiterated a “buy” rating on shares of Ternium in a report on Monday, April 20th. UBS Group lowered their price target on shares of Ternium from $18.00 to $12.00 and set a “sell” rating for the company in a report on Thursday, May 14th. Finally, Bank of America upgraded shares of Ternium from an “underperform” rating to a “buy” rating and set a $21.00 price target for the company in a report on Monday, June 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Ternium currently has an average rating of “Hold” and an average price target of $19.94.

About Ternium

Ternium SA, through its subsidiaries, manufactures and processes 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 in two segments, Steel and Mining. The Steel segment offers steel products, including slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron; and sells energy.

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