Short Interest in Ternium SA (NYSE:TX) Drops By 6.6%

Ternium SA (NYSE:TX) was the target of a large drop in short interest in June. As of June 30th, there was short interest totalling 598,800 shares, a drop of 6.6% from the June 15th total of 640,800 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 362,200 shares, the days-to-cover ratio is currently 1.7 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Oldfield Partners LLP raised its position in Ternium by 17.2% in the 1st quarter. Oldfield Partners LLP now owns 2,927,832 shares of the basic materials company’s stock worth $34,841,000 after purchasing an additional 429,300 shares during the period. Contrarian Capital Management L.L.C. grew its stake in shares of Ternium by 6.4% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 1,914,832 shares of the basic materials company’s stock valued at $42,126,000 after buying an additional 115,116 shares during the last quarter. Cape Ann Asset Management Ltd raised its holdings in shares of Ternium by 12.2% in the first quarter. Cape Ann Asset Management Ltd now owns 1,716,645 shares of the basic materials company’s stock worth $20,428,000 after buying an additional 186,306 shares during the period. Westwood Global Investments LLC lifted its stake in shares of Ternium by 7.6% during the 1st quarter. Westwood Global Investments LLC now owns 1,296,530 shares of the basic materials company’s stock worth $15,429,000 after acquiring an additional 91,242 shares during the last quarter. Finally, Credit Suisse AG lifted its stake in shares of Ternium by 90.8% during the 4th quarter. Credit Suisse AG now owns 1,137,062 shares of the basic materials company’s stock worth $25,015,000 after acquiring an additional 541,093 shares during the last quarter. 18.53% of the stock is owned by institutional investors.

Shares of NYSE TX opened at $14.86 on Friday. Ternium has a 1-year low of $9.59 and a 1-year high of $23.65. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.17 and a quick ratio of 1.12. The business’s 50 day moving average is $15.77 and its two-hundred day moving average is $16.83. The stock has a market capitalization of $2.92 billion, a P/E ratio of 8.85, a PEG ratio of 3.83 and a beta of 1.29.

Ternium (NYSE:TX) last announced its earnings results on Tuesday, April 28th. The basic materials company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.45). The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Ternium had a return on equity of 6.78% and a net margin of 3.36%. Ternium’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 EPS. As a group, equities research analysts anticipate that Ternium will post 1.17 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on TX shares. Morgan Stanley upgraded shares of Ternium from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $23.00 to $18.00 in a research report on Monday, March 16th. Zacks Investment Research downgraded shares of Ternium from a “buy” rating to a “hold” rating in a report on Friday. Goldman Sachs Group reaffirmed a “buy” rating on shares of Ternium in a report on Monday, April 20th. UBS Group decreased their target price on Ternium from $18.00 to $12.00 and set a “sell” rating on the stock in a research report on Thursday, May 14th. Finally, TheStreet cut Ternium from a “b-” rating to a “c” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $19.94.

Ternium Company Profile

Ternium SA, through its subsidiaries, manufactures and processes various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates in two segments, Steel and Mining. The Steel segment offers steel products, including slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron; and sells energy.

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