Ternium S.A. (NYSE:TX) Sees Significant Decrease in Short Interest

Ternium S.A. (NYSE:TX) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 656,000 shares, a decrease of 18.1% from the October 15th total of 801,300 shares. Based on an average trading volume of 179,800 shares, the days-to-cover ratio is presently 3.6 days.

Institutional Investors Weigh In On Ternium

Several large investors have recently added to or reduced their stakes in TX. Donald Smith & CO. Inc. purchased a new stake in shares of Ternium during the 2nd quarter valued at $50,566,000. Public Employees Retirement System of Ohio purchased a new stake in Ternium during the third quarter valued at about $6,743,000. State Street Corp lifted its stake in Ternium by 422.1% during the third quarter. State Street Corp now owns 174,572 shares of the basic materials company’s stock worth $6,443,000 after purchasing an additional 141,134 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Ternium in the 1st quarter worth about $5,426,000. Finally, Renaissance Technologies LLC increased its position in shares of Ternium by 43.0% during the 2nd quarter. Renaissance Technologies LLC now owns 258,600 shares of the basic materials company’s stock valued at $9,710,000 after purchasing an additional 77,800 shares during the last quarter. Institutional investors own 11.98% of the company’s stock.

Ternium Stock Up 2.3 %

NYSE:TX traded up $0.77 during trading hours on Friday, reaching $34.19. The company had a trading volume of 203,726 shares, compared to its average volume of 207,198. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 85.48, a P/E/G ratio of 0.24 and a beta of 1.77. The business’s 50-day simple moving average is $35.08 and its two-hundred day simple moving average is $36.72. The company has a quick ratio of 1.67, a current ratio of 2.92 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 results on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.45 billion. During the same period in the previous year, the company earned $1.38 earnings per share. The firm’s revenue for the quarter was down 13.6% compared to the same quarter last year. On average, equities analysts expect that Ternium will post 3.7 earnings per share for the current year.

Ternium Cuts Dividend

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

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Ternium from a “buy” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Ternium has an average rating of “Moderate Buy” and an average price target of $52.33.

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.