Ternium (NYSE:TX) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Ternium (NYSE:TX) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Ternium Trading Up 2.3 %

NYSE:TX opened at $34.19 on Thursday. The company has a market capitalization of $6.71 billion, a PE ratio of 85.48, a P/E/G ratio of 0.24 and a beta of 1.77. Ternium has a 52-week low of $30.68 and a 52-week high of $44.44. The stock’s 50 day moving average price is $35.08 and its 200 day moving average price is $36.68. 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 (NYSE:TX) last announced its earnings results on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $4.45 billion. During the same period last year, the firm posted $1.38 earnings per share. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. On average, research analysts anticipate that Ternium will post 3.7 EPS for the current year.

Ternium Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Stockholders 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 dividend yield of 8.5%. Ternium’s dividend payout ratio (DPR) is 1,100.03%.

Hedge Funds Weigh In On Ternium

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in Ternium during the 3rd quarter worth $6,743,000. State Street Corp increased its stake in shares of 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 acquiring an additional 141,134 shares during the period. Verition Fund Management LLC purchased a new position in Ternium during the third quarter worth about $244,000. Quantbot Technologies LP acquired a new stake in Ternium in the third quarter valued at about $242,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in Ternium by 155.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,714 shares of the basic materials company’s stock valued at $728,000 after purchasing an additional 11,983 shares in the last quarter. Institutional investors and hedge funds own 11.98% of the company’s stock.

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.