Ternium (NYSE:TX) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Ternium S.A. (NYSE:TX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.15 and traded as high as $32.18. Ternium shares last traded at $31.56, with a volume of 285,866 shares changing hands.

Wall Street Analysts Forecast Growth

TX has been the topic of several recent research reports. UBS Group assumed coverage on shares of Ternium in a report on Wednesday, March 12th. They set a “neutral” rating and a $32.00 target price on the stock. The Goldman Sachs Group cut their target price on Ternium from $45.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, February 6th.

Ternium Stock Down 1.1 %

The company has a market cap of $6.23 billion, a P/E ratio of -113.37, a price-to-earnings-growth ratio of 0.38 and a beta of 1.76. The stock has a fifty day moving average price of $30.37 and a two-hundred day moving average price of $32.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.88 and a quick ratio of 1.67.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($1.39). Ternium had a negative net margin of 0.31% and a positive return on equity of 1.82%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $4.18 billion. On average, research analysts expect that Ternium S.A. will post 4.37 EPS for the current year.

Ternium Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a dividend yield of 10.3%. This is an increase from Ternium’s previous semi-annual dividend of $0.09. The ex-dividend date is Friday, May 9th. Ternium’s dividend payout ratio (DPR) is presently -1,285.71%.

Institutional Trading of Ternium

Several hedge funds have recently added to or reduced their stakes in TX. Wellington Management Group LLP lifted its stake in Ternium by 15.5% in the fourth quarter. Wellington Management Group LLP now owns 208,827 shares of the basic materials company’s stock valued at $6,073,000 after purchasing an additional 28,054 shares during the last quarter. Woodline Partners LP grew its stake in shares of Ternium by 28.0% during the 4th quarter. Woodline Partners LP now owns 365,693 shares of the basic materials company’s stock worth $10,634,000 after acquiring an additional 79,935 shares during the period. Silvercrest Asset Management Group LLC purchased a new stake in Ternium in the 4th quarter worth about $856,000. PointState Capital LP purchased a new stake in Ternium in the 4th quarter worth about $4,112,000. Finally, Millennium Management LLC raised its stake in Ternium by 70.8% in the 4th quarter. Millennium Management LLC now owns 18,947 shares of the basic materials company’s stock valued at $551,000 after acquiring an additional 7,853 shares during the period. Institutional investors own 11.98% of the company’s stock.

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.