Ternium (NYSE:TX) Reaches New 1-Year High – Here’s Why

Ternium S.A. (NYSE:TX)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $58.24 and last traded at $57.06, with a volume of 161874 shares. The stock had previously closed at $54.21.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TX. Zacks Research cut Ternium from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. HSBC reissued a “buy” rating on shares of Ternium in a report on Friday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $57.00 price target on shares of Ternium in a research note on Friday, May 22nd. Wells Fargo & Company raised shares of Ternium from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $43.00 to $45.00 in a research report on Thursday, July 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ternium in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.50.

Ternium Stock Up 4.2%

The firm has a 50 day simple moving average of $47.75 and a two-hundred day simple moving average of $44.82. The company has a quick ratio of 1.43, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $11.32 billion, a P/E ratio of 15.86, a PEG ratio of 0.17 and a beta of 1.25.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, June 30th. The basic materials company reported $1.80 earnings per share (EPS) for the quarter. Ternium had a return on equity of 4.26% and a net margin of 4.37%.The company had revenue of $4.34 billion for the quarter. On average, equities research analysts expect that Ternium S.A. will post 6.07 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new stake in shares of Ternium during the 2nd quarter valued at approximately $5,704,000. Donald Smith & CO. Inc. bought a new stake in shares of Ternium during the second quarter worth $134,131,000. Oldfield Partners LLP increased its holdings in shares of Ternium by 11.3% during the second quarter. Oldfield Partners LLP now owns 26,161 shares of the basic materials company’s stock worth $1,117,000 after buying an additional 2,666 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Ternium by 18.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,166 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 331 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Ternium by 69.4% during the 1st quarter. Empowered Funds LLC now owns 161,171 shares of the basic materials company’s stock valued at $6,471,000 after acquiring an additional 66,042 shares in the last quarter. Institutional investors own 11.98% of the company’s stock.

About Ternium

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot?rolled and cold?rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.