Ternium (NYSE:TX) Sees Unusually-High Trading Volume – Here’s What Happened

Ternium S.A. (NYSE:TXGet Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 419,150 shares changed hands during mid-day trading, an increase of 28% from the previous session’s volume of 327,759 shares.The stock last traded at $46.03 and had previously closed at $44.84.

Analyst Ratings Changes

TX has been the topic of a number of recent analyst reports. Bank of America raised shares of Ternium from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Monday, April 13th. Scotiabank restated a “sector perform” rating and issued a $40.00 price objective on shares of Ternium in a research note on Thursday, March 26th. Itau BBA Securities upgraded Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 target price on the stock in a research report on Sunday, May 24th. Bradesco Corretora upgraded shares of Ternium to an “outperform” rating and set a $62.00 price target for the company in a research report on Tuesday, May 19th. Finally, Wells Fargo & Company upgraded shares of Ternium from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $43.00 to $45.00 in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Ternium has an average rating of “Moderate Buy” and an average price target of $47.94.

Check Out Our Latest Analysis on TX

Ternium Trading Up 3.1%

The company has a current ratio of 2.63, a quick ratio of 1.53 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $45.84 and a 200-day moving average price of $43.28. The firm has a market capitalization of $9.27 billion, a PE ratio of 15.88, a P/E/G ratio of 0.16 and a beta of 1.29.

Ternium (NYSE:TXGet Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share for the quarter. The firm had revenue of $3.93 billion for the quarter. Ternium had a return on equity of 3.70% and a net margin of 3.66%. Analysts expect that Ternium S.A. will post 5.71 earnings per share for the current year.

Hedge Funds Weigh In On Ternium

Several hedge funds have recently bought and sold shares of TX. EverSource Wealth Advisors LLC raised its position in Ternium by 49.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 232 shares during the last quarter. Parallel Advisors LLC grew its holdings in Ternium by 101.2% in the 1st quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock valued at $32,000 after buying an additional 405 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in shares of Ternium in the fourth quarter worth approximately $36,000. Camelot Portfolios LLC purchased a new stake in Ternium in the fourth quarter valued at approximately $38,000. Finally, Advisory Services Network LLC acquired a new position in Ternium during the third quarter worth approximately $38,000. 11.98% of the stock is owned by hedge funds and other institutional investors.

Ternium Company Profile

(Get Free Report)

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.

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