Ternium (NYSE:TX) Upgraded by StockNews.com to Strong-Buy

StockNews.com upgraded shares of Ternium (NYSE:TX) from a buy rating to a strong-buy rating in a report released on Tuesday.

TX has been the topic of several other research reports. JPMorgan Chase & Co. raised their price target on Ternium from $48.00 to $51.50 and gave the company an overweight rating in a report on Thursday, March 21st. The Goldman Sachs Group lifted their price objective on shares of Ternium from $49.00 to $54.00 and gave the stock a buy rating in a report on Thursday, April 4th. Finally, TheStreet raised Ternium from a c+ rating to a b- rating in a research note on Friday, January 12th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $50.83.

Ternium Stock Performance

Shares of TX opened at $40.48 on Tuesday. Ternium has a 1 year low of $35.22 and a 1 year high of $45.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.32 and a quick ratio of 1.98. The stock’s fifty day moving average price is $41.43 and its two-hundred day moving average price is $39.99. The firm has a market cap of $8.12 billion, a PE ratio of 12.01 and a beta of 1.69.

Ternium (NYSE:TX) last released its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.30 by $0.54. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.77 billion. Ternium had a net margin of 3.53% and a return on equity of 10.21%. Ternium’s revenue for the quarter was up 31.9% on a year-over-year basis. During the same period last year, the firm earned $1.91 EPS. On average, equities research analysts forecast that Ternium will post 6.42 EPS for the current year.

Ternium Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be paid a dividend of $2.20 per share. This is a boost from Ternium’s previous Semi-Annual dividend of $1.10. This represents a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, May 2nd. Ternium’s dividend payout ratio (DPR) is 130.56%.

Institutional Investors Weigh In On Ternium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Contrarian Capital Management L.L.C. increased its position in Ternium by 8.9% during the 4th quarter. Contrarian Capital Management L.L.C. now owns 1,117,981 shares of the basic materials company’s stock valued at $47,481,000 after purchasing an additional 91,629 shares during the period. Victory Capital Management Inc. boosted its position in Ternium by 48.7% during the 3rd quarter. Victory Capital Management Inc. now owns 966,286 shares of the basic materials company’s stock valued at $38,555,000 after acquiring an additional 316,432 shares in the last quarter. Oaktree Capital Management LP grew its holdings in shares of Ternium by 7.4% during the 4th quarter. Oaktree Capital Management LP now owns 958,237 shares of the basic materials company’s stock worth $40,696,000 after acquiring an additional 66,082 shares during the period. Wellington Management Group LLP lifted its stake in shares of Ternium by 25.6% in the 4th quarter. Wellington Management Group LLP now owns 248,980 shares of the basic materials company’s stock valued at $10,574,000 after purchasing an additional 50,743 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Ternium by 20,865.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 220,765 shares of the basic materials company’s stock valued at $9,188,000 after purchasing an additional 219,712 shares in the last quarter. 11.98% of the stock is currently owned by institutional investors.

About Ternium

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.