Ternium S.A. (NYSE:TX) Short Interest Down 18.1% in October

Ternium S.A. (NYSE:TX) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 656,000 shares, a drop of 18.1% from the October 15th total of 801,300 shares. Based on an average daily trading volume, of 179,800 shares, the short-interest ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Ternium from a “buy” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Ternium currently has an average rating of “Moderate Buy” and a consensus target price of $52.33.

Institutional Investors Weigh In On Ternium

Institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in Ternium during the 3rd quarter valued at approximately $6,743,000. State Street Corp boosted its position in shares of Ternium by 422.1% during the third quarter. State Street Corp now owns 174,572 shares of the basic materials company’s stock worth $6,443,000 after acquiring an additional 141,134 shares during the last quarter. Verition Fund Management LLC purchased a new position in Ternium during the third quarter valued at $244,000. Quantbot Technologies LP bought a new stake in Ternium in the 3rd quarter valued at $242,000. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Ternium by 155.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,714 shares of the basic materials company’s stock worth $728,000 after purchasing an additional 11,983 shares in the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

Ternium Stock Performance

NYSE TX traded up $0.77 on Friday, hitting $34.19. 203,644 shares of the company traded hands, compared to its average volume of 207,198. The company has a current ratio of 2.92, a quick ratio of 1.67 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $35.04 and its 200-day moving average price is $36.82. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 84.75, a P/E/G ratio of 0.24 and a beta of 1.77. Ternium has a 52-week low of $30.68 and a 52-week high of $44.44.

Ternium (NYSE:TX) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Ternium had a return on equity of 4.70% and a net margin of 0.42%. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the previous year, the company posted $1.38 EPS. The firm’s revenue was down 13.6% on a year-over-year basis. Equities analysts expect that Ternium will post 3.7 earnings per share for the current year.

Ternium Cuts Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be paid a dividend of $0.09 per share. This represents a dividend yield of 8.5%. The ex-dividend date is Monday, November 18th. Ternium’s dividend payout ratio (DPR) is 1,100.03%.

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.