Ternium’s (TX) Sector Perform Rating Reiterated at Scotiabank

Scotiabank reissued their sector perform rating on shares of Ternium (NYSE:TX) in a report published on Thursday morning, MarketBeat reports. The brokerage currently has a $40.00 price objective on the basic materials company’s stock.

Other analysts have also issued research reports about the company. Zacks Research lowered Ternium from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Weiss Ratings raised Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. UBS Group increased their price target on Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, December 15th. Finally, Wells Fargo & Company lowered their price target on Ternium from $34.00 to $33.00 and set an “underweight” rating for the company in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.94.

Ternium Stock Up 0.2%

Shares of Ternium stock opened at $38.71 on Thursday. The company has a quick ratio of 1.45, a current ratio of 2.49 and a debt-to-equity ratio of 0.12. The company has a market cap of $7.76 billion, a P/E ratio of 17.92 and a beta of 1.32. The firm’s 50 day moving average price is $41.74 and its 200-day moving average price is $38.60. Ternium has a 52-week low of $24.00 and a 52-week high of $45.57.

Ternium (NYSE:TX) last posted its earnings results on Saturday, February 14th. The basic materials company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.15). Ternium had a net margin of 2.72% and a return on equity of 3.06%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the previous year, the company earned ($0.42) EPS. The company’s revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts predict that Ternium will post 4.37 EPS for the current fiscal year.

Ternium Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, May 14th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a dividend yield of 413.0%. Ternium’s dividend payout ratio is currently 83.33%.

Institutional Investors Weigh In On Ternium

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Ternium by 31.5% during the 1st quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company’s stock worth $840,000 after buying an additional 6,453 shares during the last quarter. Millennium Management LLC increased its stake in shares of Ternium by 569.4% in the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock worth $3,952,000 after acquiring an additional 107,880 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Ternium by 63.5% during the second quarter. Mackenzie Financial Corp now owns 120,229 shares of the basic materials company’s stock worth $3,619,000 after purchasing an additional 46,700 shares during the last quarter. Schroder Investment Management Group lifted its position in Ternium by 11.0% during the second quarter. Schroder Investment Management Group now owns 2,177,525 shares of the basic materials company’s stock valued at $65,544,000 after purchasing an additional 216,301 shares during the period. Finally, Invesco Ltd. lifted its position in Ternium by 58.4% during the second quarter. Invesco Ltd. now owns 22,257 shares of the basic materials company’s stock valued at $670,000 after purchasing an additional 8,204 shares during the period. Hedge funds and other 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.