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

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Ternium SA (NYSE:TX) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 385,800 shares, an increase of 20.0% from the August 31st total of 321,400 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 258,900 shares, the short-interest ratio is presently 1.5 days.

Shares of Ternium stock traded up $0.26 during trading on Friday, reaching $19.38. The company’s stock had a trading volume of 120,625 shares, compared to its average volume of 308,982. The company has a quick ratio of 1.28, a current ratio of 2.39 and a debt-to-equity ratio of 0.23. Ternium has a 12-month low of $9.59 and a 12-month high of $23.65. The company has a market capitalization of $3.80 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.44 and a beta of 1.33. The business has a 50 day moving average price of $18.25 and a 200-day moving average price of $15.26.

Ternium (NYSE:TX) last posted its earnings results on Tuesday, August 4th. The basic materials company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.19. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.69 billion. Ternium had a return on equity of 4.71% and a net margin of 2.21%. Ternium’s quarterly revenue was down 36.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Research analysts predict that Ternium will post 1.41 EPS for the current fiscal year.

TX has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered Ternium from an “overweight” rating to a “neutral” rating and set a $18.50 target price on the stock. in a report on Monday, June 22nd. Bank of America upgraded Ternium from an “underperform” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Monday, June 8th. Finally, Zacks Investment Research upgraded Ternium from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Saturday, August 29th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $19.79.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Ternium during the second quarter worth $445,000. Principal Financial Group Inc. purchased a new stake in Ternium during the second quarter worth $2,341,000. Ninety One North America Inc. boosted its position in Ternium by 0.8% during the second quarter. Ninety One North America Inc. now owns 512,084 shares of the basic materials company’s stock worth $7,768,000 after purchasing an additional 4,187 shares in the last quarter. Jane Street Group LLC purchased a new stake in Ternium during the second quarter worth $293,000. Finally, Sei Investments Co. lifted its position in shares of Ternium by 27.8% in the second quarter. Sei Investments Co. now owns 100,212 shares of the basic materials company’s stock valued at $2,205,000 after acquiring an additional 21,778 shares in the last quarter. Institutional investors own 18.01% of the company’s stock.

Ternium Company Profile

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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