Ternium (NYSE:TX) Cut to Hold at StockNews.com

StockNews.com lowered shares of Ternium (NYSE:TX) from a buy rating to a hold rating in a research report released on Thursday morning.

Ternium Price Performance

Shares of TX opened at $34.19 on Thursday. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 85.48, a PEG ratio of 0.24 and a beta of 1.77. The firm’s fifty day simple moving average is $35.08 and its 200-day simple moving average is $36.72. The company has a current ratio of 2.92, a quick ratio of 1.67 and a debt-to-equity ratio of 0.11. Ternium has a twelve month low of $30.68 and a twelve month high of $44.44.

Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. Ternium had a return on equity of 4.70% and a net margin of 0.42%. 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 prior year, the firm posted $1.38 EPS. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. Equities analysts forecast that Ternium will post 3.7 EPS for the current fiscal year.

Ternium Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a dividend yield of 8.5%. Ternium’s dividend payout ratio is presently 450.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC grew its holdings in shares of Ternium by 1.8% during the first quarter. Lazard Asset Management LLC now owns 3,196,107 shares of the basic materials company’s stock worth $133,021,000 after purchasing an additional 56,379 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Ternium in the third quarter valued at approximately $1,353,000. Renaissance Technologies LLC grew its position in shares of Ternium by 43.0% during the second quarter. Renaissance Technologies LLC now owns 258,600 shares of the basic materials company’s stock worth $9,710,000 after acquiring an additional 77,800 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Ternium by 22.0% in the 2nd quarter. Sei Investments Co. now owns 203,632 shares of the basic materials company’s stock valued at $7,646,000 after acquiring an additional 36,722 shares during the period. Finally, Deprince Race & Zollo Inc. raised its position in Ternium by 12.3% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 160,270 shares of the basic materials company’s stock valued at $6,018,000 after purchasing an additional 17,552 shares during 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.