Ternium SA (NYSE:TX) Sees Significant Decrease in Short Interest

Ternium SA (NYSE:TX) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 473,100 shares, a decrease of 18.9% from the September 30th total of 583,500 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 429,800 shares, the short-interest ratio is currently 1.1 days.

A number of analysts recently issued reports on TX shares. Bradesco Corretora reissued a “neutral” rating and set a $19.00 price objective on shares of Ternium in a report on Tuesday, August 13th. ValuEngine raised Ternium from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Citigroup set a $19.00 price objective on Ternium and gave the stock a “hold” rating in a report on Thursday, October 10th. Zacks Investment Research raised Ternium from a “sell” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Morgan Stanley cut Ternium from an “overweight” rating to an “equal weight” rating and set a $27.00 price objective on the stock. in a report on Monday, August 12th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $26.50.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prudential PLC raised its holdings in shares of Ternium by 0.5% in the second quarter. Prudential PLC now owns 128,100 shares of the basic materials company’s stock valued at $2,873,000 after buying an additional 699 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Ternium in the second quarter valued at approximately $58,000. Envestnet Asset Management Inc. grew its position in shares of Ternium by 25.0% in the third quarter. Envestnet Asset Management Inc. now owns 14,117 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 2,827 shares during the last quarter. Aperio Group LLC boosted its position in Ternium by 19.1% during the second quarter. Aperio Group LLC now owns 17,789 shares of the basic materials company’s stock worth $399,000 after acquiring an additional 2,848 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in Ternium by 29.5% during the second quarter. Verition Fund Management LLC now owns 14,828 shares of the basic materials company’s stock worth $333,000 after acquiring an additional 3,380 shares during the last quarter. 18.51% of the stock is currently owned by institutional investors and hedge funds.

TX traded up $0.15 during trading on Tuesday, reaching $20.95. 4,258 shares of the company were exchanged, compared to its average volume of 582,994. Ternium has a 12-month low of $16.12 and a 12-month high of $32.26. The company has a quick ratio of 1.16, a current ratio of 2.38 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 2.73, a P/E/G ratio of 0.93 and a beta of 0.68. The company’s 50-day moving average is $19.15 and its two-hundred day moving average is $21.20.

Ternium (NYSE:TX) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. Ternium had a return on equity of 11.07% and a net margin of 7.96%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the firm earned $2.67 EPS. The company’s quarterly revenue was down 19.3% on a year-over-year basis. Equities analysts forecast that Ternium will post 2.94 earnings per share for the current year.

About Ternium

Ternium SA, through its subsidiaries, manufactures and processes various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates in two segments, Steel and Mining. The Steel segment offers steel products, including slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron; and sells energy.

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