Ternium (NYSE:TX) Price Target Raised to $41.00

Ternium (NYSE:TX) had its price target lifted by UBS Group from $39.00 to $41.00 in a research note released on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the basic materials company’s stock.

TX has been the subject of several other reports. Wells Fargo & Company reduced their price objective on Ternium from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Thursday, February 19th. Weiss Ratings raised shares of Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Zacks Research cut shares of Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $40.00 price objective on shares of Ternium in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.36.

Ternium Trading Up 0.3%

NYSE:TX opened at $39.95 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.49 and a quick ratio of 1.45. The company’s 50-day simple moving average is $41.43 and its 200 day simple moving average is $38.77. Ternium has a one year low of $24.00 and a one year high of $45.57. The firm has a market capitalization of $8.01 billion, a P/E ratio of 18.50 and a beta of 1.27.

Ternium (NYSE:TX) last issued its earnings results on Saturday, February 14th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.15). The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Ternium had a return on equity of 3.06% and a net margin of 2.72%.The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.42) EPS. As a group, analysts forecast that Ternium will post 4.37 EPS for the current fiscal year.

Ternium Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, May 14th will be paid a $0.90 dividend. The ex-dividend date is Thursday, May 14th. This represents a dividend yield of 413.0%. Ternium’s dividend payout ratio is presently 83.33%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its position in Ternium by 8.5% in the 3rd quarter. Lazard Asset Management LLC now owns 5,813,570 shares of the basic materials company’s stock worth $201,905,000 after purchasing an additional 454,798 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in shares of Ternium by 10.1% during the 2nd quarter. Donald Smith & CO. Inc. now owns 3,412,385 shares of the basic materials company’s stock valued at $102,713,000 after purchasing an additional 312,595 shares in the last quarter. Cape Ann Asset Management Ltd lifted its stake in shares of Ternium by 20.5% in the 4th quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company’s stock valued at $40,812,000 after purchasing an additional 182,000 shares during the period. Millennium Management LLC boosted its holdings in Ternium by 569.4% during the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock worth $3,952,000 after buying an additional 107,880 shares in the last quarter. Finally, Oaktree Capital Management LP boosted its holdings in Ternium by 13.2% during the second quarter. Oaktree Capital Management LP now owns 919,709 shares of the basic materials company’s stock worth $27,683,000 after buying an additional 107,100 shares in the last quarter. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

Ternium Company Profile

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.