StockNews.com Downgrades Ternium (NYSE:TX) to Hold

StockNews.com lowered shares of Ternium (NYSE:TX) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Ternium Stock Performance

TX stock traded up $0.44 during trading on Thursday, reaching $33.86. The company had a trading volume of 119,798 shares, compared to its average volume of 206,820. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.67 and a current ratio of 2.92. Ternium has a twelve month low of $30.68 and a twelve month high of $44.44. The firm has a 50-day simple moving average of $35.04 and a 200-day simple moving average of $36.82. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 84.75, a price-to-earnings-growth ratio of 0.24 and a beta of 1.77.

Ternium (NYSE:TX) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. Ternium had a net margin of 0.42% and a return on equity of 4.70%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the previous year, the business posted $1.38 EPS. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. As a group, sell-side analysts expect that Ternium will post 3.7 earnings per share for the current year.

Ternium Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.09 per share. This represents a yield of 8.5%. The ex-dividend date is Monday, November 18th. Ternium’s payout ratio is 1,100.03%.

Hedge Funds Weigh In On Ternium

Several institutional investors have recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Ternium by 422.1% during the 3rd quarter. State Street Corp now owns 174,572 shares of the basic materials company’s stock valued at $6,443,000 after purchasing an additional 141,134 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Ternium in the 3rd quarter worth $244,000. Quantbot Technologies LP purchased a new stake in Ternium in the 3rd quarter worth $242,000. Dynamic Technology Lab Private Ltd increased its holdings in Ternium by 155.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,714 shares of the basic materials company’s stock worth $728,000 after acquiring an additional 11,983 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Ternium by 2.8% in the 3rd quarter. Victory Capital Management Inc. now owns 687,432 shares of the basic materials company’s stock worth $25,373,000 after acquiring an additional 18,967 shares in the last quarter. 11.98% of the stock is owned by hedge funds and other institutional investors.

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.