Ternium (NYSE:TX) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Ternium (NYSE:TX) from a buy rating to a hold rating in a research report report published on Thursday.

Ternium Trading Up 2.3 %

NYSE TX opened at $34.19 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.67 and a current ratio of 2.92. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 85.48, a PEG ratio of 0.24 and a beta of 1.77. The firm has a 50 day simple moving average of $35.08 and a 200-day simple moving average of $36.68. Ternium has a one year low of $30.68 and a one year high of $44.44.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. Ternium had a net margin of 0.42% and a return on equity of 4.70%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the company posted $1.38 EPS. The firm’s revenue was down 13.6% compared to the same quarter last year. Equities research analysts anticipate that Ternium will post 3.7 EPS for the current fiscal year.

Ternium Cuts Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be issued a $0.09 dividend. The ex-dividend date is Monday, November 18th. This represents a yield of 8.5%. Ternium’s dividend payout ratio (DPR) is 1,100.03%.

Institutional Investors Weigh In On Ternium

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Ternium by 72.1% in the third quarter. GAMMA Investing LLC now owns 919 shares of the basic materials company’s stock valued at $34,000 after buying an additional 385 shares during the last quarter. Blue Trust Inc. raised its position in shares of Ternium by 3,152.3% during the 2nd 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 in the last quarter. SG Americas Securities LLC purchased a new stake in Ternium during the first quarter worth approximately $107,000. Virtus Investment Advisers Inc. acquired a new position in Ternium in the first quarter valued at approximately $202,000. Finally, Quantbot Technologies LP purchased a new position in Ternium in the third quarter valued at approximately $242,000. 11.98% of the stock is currently owned by institutional investors and hedge funds.

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.