Ternium S.A. (NYSE:TX) Sees Large Drop in Short Interest

Ternium S.A. (NYSE:TX) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 679,100 shares, a decline of 20.6% from the August 15th total of 854,900 shares. Based on an average daily volume of 217,000 shares, the short-interest ratio is presently 3.1 days.

Ternium Stock Up 2.9 %

Shares of NYSE TX opened at $33.35 on Monday. The stock’s 50-day simple moving average is $34.52 and its 200-day simple moving average is $38.63. Ternium has a 1 year low of $30.68 and a 1 year high of $44.44. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.14 and a beta of 1.76. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.57 and a current ratio of 2.74.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, July 30th. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($1.36). Ternium had a positive return on equity of 6.08% and a negative net margin of 3.57%. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the firm posted $3.19 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts anticipate that Ternium will post 7.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ternium

Several large investors have recently modified their holdings of the stock. Activest Wealth Management bought a new stake in Ternium during the first quarter valued at $44,000. Blue Trust Inc. raised its stake in Ternium by 3,152.3% during the second quarter. Blue Trust Inc. now owns 1,431 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 1,387 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Ternium by 19.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,759 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 287 shares during the last quarter. SG Americas Securities LLC acquired a new position in Ternium in the first quarter valued at approximately $107,000. Finally, Virtus Investment Advisers Inc. acquired a new position in Ternium in the first quarter valued at approximately $202,000. Institutional investors own 11.98% of the company’s stock.

Analyst Upgrades and Downgrades

TX has been the subject of several recent research reports. StockNews.com raised shares of Ternium from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. raised their price objective on Ternium from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.