River & Mercantile Asset Management LLP reduced its holdings in Ternium SA (NYSE:TX) by 89.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,900 shares of the basic materials company’s stock after selling 73,100 shares during the period. River & Mercantile Asset Management LLP’s holdings in Ternium were worth $200,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Prudential PLC lifted its stake in shares of Ternium by 0.5% in the second quarter. Prudential PLC now owns 128,100 shares of the basic materials company’s stock worth $2,873,000 after buying an additional 699 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Ternium in the second quarter worth about $58,000. Aperio Group LLC increased its position in Ternium by 19.1% during the second quarter. Aperio Group LLC now owns 17,789 shares of the basic materials company’s stock worth $399,000 after purchasing an additional 2,848 shares during the last quarter. Verition Fund Management LLC increased its position in Ternium by 29.5% during the second quarter. Verition Fund Management LLC now owns 14,828 shares of the basic materials company’s stock worth $333,000 after purchasing an additional 3,380 shares during the last quarter. Finally, CoreCommodity Management LLC increased its position in Ternium by 12.5% during the second quarter. CoreCommodity Management LLC now owns 34,832 shares of the basic materials company’s stock worth $781,000 after purchasing an additional 3,859 shares during the last quarter. 18.49% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on TX. Bradesco Corretora restated a “neutral” rating and set a $19.00 price objective on shares of Ternium in a research report on Tuesday, August 13th. Morgan Stanley cut shares of Ternium from an “overweight” rating to an “equal weight” rating and set a $27.00 price objective for the company. in a research report on Monday, August 12th. ValuEngine upgraded shares of Ternium from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of Ternium from a “hold” rating to a “sell” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.75.
Ternium stock opened at $18.69 on Friday. Ternium SA has a 12-month low of $16.12 and a 12-month high of $32.99. The stock has a market cap of $3.67 billion, a P/E ratio of 2.44, a PEG ratio of 0.77 and a beta of 0.66. The company has a 50-day moving average price of $18.48 and a 200 day moving average price of $22.41. The company has a current ratio of 2.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.
Ternium (NYSE:TX) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.15. Ternium had a net margin of 11.17% and a return on equity of 16.62%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.69 billion. As a group, analysts forecast that Ternium SA will post 3.03 EPS for the current year.
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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