Ternium (NYSE:TX) Shares Cross Above 200 Day Moving Average – Time to Sell?

Ternium S.A. (NYSE:TX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $34.13 and traded as high as $38.51. Ternium shares last traded at $38.16, with a volume of 92,753 shares trading hands.

Analyst Ratings Changes

Several research firms have weighed in on TX. Zacks Research raised shares of Ternium from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Weiss Ratings restated a “hold (c)” rating on shares of Ternium in a report on Wednesday, October 8th. Scotiabank cut their target price on Ternium from $41.00 to $40.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their price target on shares of Ternium from $39.00 to $40.50 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, UBS Group lifted their price objective on shares of Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ternium presently has a consensus rating of “Hold” and a consensus price target of $35.56.

Ternium Stock Down 0.8%

The stock’s fifty day simple moving average is $36.83 and its 200-day simple moving average is $34.13. The stock has a market capitalization of $7.65 billion, a PE ratio of 12.85 and a beta of 1.36. The company has a current ratio of 2.46, a quick ratio of 1.42 and a debt-to-equity ratio of 0.10.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.68). Ternium had a return on equity of 1.89% and a net margin of 3.72%.The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the firm posted $0.16 earnings per share. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Ternium S.A. will post 4.37 EPS for the current fiscal year.

Ternium Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a dividend yield of 503.0%. Ternium’s dividend payout ratio is currently 60.61%.

Institutional Trading of Ternium

Hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC bought a new position in shares of Ternium during the 1st quarter valued at approximately $700,000. Vident Advisory LLC grew its holdings in Ternium by 60.4% during the first quarter. Vident Advisory LLC now owns 12,276 shares of the basic materials company’s stock valued at $383,000 after purchasing an additional 4,624 shares during the period. Royal Bank of Canada increased its position in Ternium by 31.5% in the first 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. Amundi increased its position in Ternium by 3.4% in the first quarter. Amundi now owns 490,076 shares of the basic materials company’s stock worth $14,550,000 after buying an additional 16,006 shares during the last quarter. Finally, Millennium Management LLC raised 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 valued at $3,952,000 after buying an additional 107,880 shares during the period. 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.