Ternium (NYSE:TX) Sets New 12-Month High – Here’s What Happened

Ternium S.A. (NYSE:TX)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $50.59 and last traded at $49.56, with a volume of 79535 shares. The stock had previously closed at $46.99.

Analyst Upgrades and Downgrades

TX has been the subject of a number of analyst reports. Wall Street Zen raised Ternium from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Zacks Research cut Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Wells Fargo & Company lifted their price objective on Ternium from $36.00 to $43.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Bank of America upgraded Ternium from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Monday, April 13th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $40.00 target price on shares of Ternium in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.35.

Ternium Price Performance

The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 17.03 and a beta of 1.26. The stock has a fifty day simple moving average of $42.07 and a 200-day simple moving average of $40.70. The company has a current ratio of 2.63, a quick ratio of 1.53 and a debt-to-equity ratio of 0.14.

Ternium (NYSE:TX) last posted its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $1.10 EPS for the quarter. The firm had revenue of $3.93 billion during the quarter. Ternium had a return on equity of 3.70% and a net margin of 3.66%. As a group, equities research analysts expect that Ternium S.A. will post 4.04 EPS for the current year.

Hedge Funds Weigh In On Ternium

Several large investors have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors acquired a new position in Ternium in the 1st quarter valued at approximately $264,000. Amundi raised its holdings in Ternium by 19.9% in the 1st quarter. Amundi now owns 703,304 shares of the basic materials company’s stock valued at $28,238,000 after acquiring an additional 116,813 shares in the last quarter. Royal Bank of Canada raised its holdings in Ternium by 3.6% in the 1st quarter. Royal Bank of Canada now owns 28,040 shares of the basic materials company’s stock valued at $1,125,000 after acquiring an additional 968 shares in the last quarter. Empowered Funds LLC raised its holdings in Ternium by 69.4% in the 1st quarter. Empowered Funds LLC now owns 161,171 shares of the basic materials company’s stock valued at $6,471,000 after acquiring an additional 66,042 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Ternium by 8.0% in the 1st quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company’s stock valued at $254,395,000 after purchasing an additional 469,846 shares during the period. Institutional investors and hedge funds own 11.98% of the company’s stock.

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.