Ternium S.A. (NYSE:TX) Sees Significant Drop in Short Interest

Ternium S.A. (NYSE:TX) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 679,100 shares, a decrease of 20.6% from the August 15th total of 854,900 shares. Based on an average daily trading volume, of 217,000 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Investors Weigh In On Ternium

A number of hedge funds and other institutional investors have recently modified their holdings of TX. Activest Wealth Management acquired a new position in Ternium in the first quarter valued at $44,000. Blue Trust Inc. raised its holdings in shares of Ternium by 3,152.3% in the 2nd quarter. Blue Trust Inc. now owns 1,431 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 1,387 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Ternium by 19.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,759 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 287 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ternium during the 1st quarter worth about $107,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Ternium during the 1st quarter worth about $202,000. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on TX shares. JPMorgan Chase & Co. boosted their target price on shares of Ternium from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. StockNews.com raised Ternium from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $52.33.

Ternium Price Performance

NYSE:TX traded up $0.08 during trading hours on Tuesday, reaching $34.24. 107,473 shares of the company traded hands, compared to its average volume of 214,524. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.74 and a quick ratio of 1.57. The firm’s 50-day moving average is $34.46 and its 200-day moving average is $38.58. The stock has a market cap of $6.86 billion, a P/E ratio of 10.14, a P/E/G ratio of 0.14 and a beta of 1.76. Ternium has a 1-year low of $30.68 and a 1-year high of $44.44.

Ternium (NYSE:TX) last posted its quarterly earnings data on Tuesday, July 30th. The basic materials company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($1.36). The company had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.57 billion. Ternium had a negative net margin of 3.57% and a positive return on equity of 6.08%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. Equities research analysts expect that Ternium will post 7.01 earnings per share for the current fiscal year.

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.