Ternium (NYSE:TX) Reaches New 52-Week Low – Here’s Why

Ternium S.A. (NYSE:TX) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $28.37 and last traded at $28.67, with a volume of 17334 shares. The stock had previously closed at $28.77.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Ternium from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Ternium Price Performance

The firm’s 50-day moving average is $30.84 and its two-hundred day moving average is $33.52. The company has a market cap of $5.66 billion, a P/E ratio of 72.06, a PEG ratio of 0.34 and a beta of 1.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 1.67.

Ternium (NYSE:TX) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share for the quarter, beating 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 analysts’ expectations of $4.45 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. The business’s revenue was down 13.6% compared to the same quarter last year. Analysts anticipate that Ternium S.A. will post 3.7 earnings per share for the current year.

Ternium Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were issued a $0.09 dividend. This represents a dividend yield of 8.5%. The ex-dividend date was Monday, November 18th. Ternium’s payout ratio is presently 450.01%.

Institutional Trading of Ternium

Hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. increased its holdings in shares of Ternium by 88.6% during the third quarter. Donald Smith & CO. Inc. now owns 2,539,751 shares of the basic materials company’s stock valued at $93,742,000 after acquiring an additional 1,193,110 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Ternium in the 3rd quarter worth approximately $6,743,000. State Street Corp increased its holdings in Ternium by 422.1% in the 3rd quarter. State Street Corp now owns 174,572 shares of the basic materials company’s stock worth $6,443,000 after buying an additional 141,134 shares during the period. Renaissance Technologies LLC increased its holdings in Ternium by 43.0% in the 2nd quarter. Renaissance Technologies LLC now owns 258,600 shares of the basic materials company’s stock worth $9,710,000 after buying an additional 77,800 shares during the period. Finally, Sei Investments Co. increased its holdings in Ternium by 22.0% in the 2nd quarter. Sei Investments Co. now owns 203,632 shares of the basic materials company’s stock worth $7,646,000 after buying an additional 36,722 shares during the period. 11.98% of the stock is owned by hedge funds and other 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.