Ternium (NYSE:TX) Reaches New 1-Year High – Here’s Why

Ternium S.A. (NYSE:TX) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $44.62 and last traded at $44.17, with a volume of 233554 shares trading hands. The stock had previously closed at $42.98.

Analyst Ratings Changes

TX has been the topic of a number of research analyst reports. HSBC set a $41.00 target price on Ternium and gave the stock a “buy” rating in a report on Friday, October 17th. Wall Street Zen cut shares of Ternium from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research cut Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Ternium in a report on Wednesday, January 21st. Finally, Wells Fargo & Company lifted their price objective on Ternium from $30.00 to $34.00 and gave the stock an “underweight” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.06.

Ternium Trading Up 2.8%

The stock has a market capitalization of $8.85 billion, a PE ratio of 14.87 and a beta of 1.34. The stock’s 50 day moving average price is $39.74 and its 200-day moving average price is $36.26. The company has a quick ratio of 1.42, a current ratio of 2.46 and a debt-to-equity ratio of 0.10.

Institutional Trading of Ternium

Institutional investors have recently made changes to their positions in the business. Camelot Portfolios LLC purchased a new position in Ternium in the 4th quarter worth approximately $38,000. Deprince Race & Zollo Inc. raised its position in shares of Ternium by 17.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 118,482 shares of the basic materials company’s stock valued at $4,525,000 after buying an additional 17,461 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Ternium during the fourth quarter valued at approximately $736,000. GAMMA Investing LLC lifted its holdings in shares of Ternium by 56.4% in the fourth quarter. GAMMA Investing LLC now owns 1,659 shares of the basic materials company’s stock worth $63,000 after buying an additional 598 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Ternium by 142.1% during the third quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 736 shares during the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

Ternium Company Profile

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.