Ternium (NYSE:TX) Given “Underperform” Rating at Bank of America

Bank of America reaffirmed their underperform rating on shares of Ternium (NYSE:TX) in a report issued on Monday morning, Marketbeat.com reports. The firm currently has a $25.00 price target on the basic materials company’s stock.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group lowered their target price on Ternium from $39.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. UBS Group started coverage on Ternium in a report on Wednesday, March 12th. They set a “neutral” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ternium currently has an average rating of “Hold” and an average target price of $37.00.

Ternium Price Performance

Shares of TX opened at $26.48 on Monday. The stock has a 50 day simple moving average of $30.55 and a 200 day simple moving average of $31.96. Ternium has a 52-week low of $25.93 and a 52-week high of $44.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.67 and a current ratio of 2.88. The firm has a market capitalization of $5.20 billion, a PE ratio of -94.57, a P/E/G ratio of 0.38 and a beta of 1.56.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.97 by ($1.39). Ternium had a negative net margin of 0.31% and a positive return on equity of 1.82%. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $4.18 billion. Sell-side analysts predict that Ternium will post 4.37 EPS for the current fiscal year.

Ternium Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, May 9th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Ternium’s previous semi-annual dividend of $0.09. This represents a yield of 10.3%. Ternium’s payout ratio is -1,285.71%.

Hedge Funds Weigh In On Ternium

Several hedge funds have recently modified their holdings of TX. GAMMA Investing LLC boosted its position in Ternium by 4,630.9% during the first quarter. GAMMA Investing LLC now owns 59,609 shares of the basic materials company’s stock valued at $1,913,000 after purchasing an additional 58,349 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Ternium by 15.5% during the 4th quarter. Wellington Management Group LLP now owns 208,827 shares of the basic materials company’s stock worth $6,073,000 after purchasing an additional 28,054 shares in the last quarter. Woodline Partners LP raised its stake in shares of Ternium by 28.0% during the 4th quarter. Woodline Partners LP now owns 365,693 shares of the basic materials company’s stock worth $10,634,000 after purchasing an additional 79,935 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in shares of Ternium in the 4th quarter valued at approximately $856,000. Finally, PointState Capital LP bought a new position in shares of Ternium in the fourth quarter valued at $4,112,000. Institutional investors own 11.98% of the company’s stock.

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.