Ternium S.A. (NYSE:TX) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd lowered its stake in shares of Ternium S.A. (NYSE:TX) by 4.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,638,376 shares of the basic materials company’s stock after selling 77,572 shares during the quarter. Ninety One UK Ltd’s holdings in Ternium were worth $69,582,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TX. Lazard Asset Management LLC boosted its holdings in shares of Ternium by 29.0% during the fourth quarter. Lazard Asset Management LLC now owns 3,681,706 shares of the basic materials company’s stock valued at $112,512,000 after acquiring an additional 827,276 shares during the period. Victory Capital Management Inc. boosted its stake in Ternium by 48.7% during the 3rd quarter. Victory Capital Management Inc. now owns 966,286 shares of the basic materials company’s stock valued at $38,555,000 after purchasing an additional 316,432 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Ternium by 590.7% in the first quarter. Envestnet Asset Management Inc. now owns 407,771 shares of the basic materials company’s stock valued at $1,463,000 after purchasing an additional 348,732 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Ternium by 8.2% during the fourth quarter. JPMorgan Chase & Co. now owns 304,069 shares of the basic materials company’s stock valued at $9,293,000 after buying an additional 22,930 shares during the last quarter. Finally, Balyasny Asset Management LLC boosted its position in shares of Ternium by 129.7% during the third quarter. Balyasny Asset Management LLC now owns 297,298 shares of the basic materials company’s stock worth $8,143,000 after buying an additional 167,844 shares during the period. 11.98% of the stock is currently owned by institutional investors.

Ternium Price Performance

NYSE:TX traded up $0.08 during midday trading on Thursday, hitting $42.78. 77,370 shares of the stock were exchanged, compared to its average volume of 177,977. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 12.43 and a beta of 1.69. The company has a current ratio of 3.17, a quick ratio of 1.86 and a debt-to-equity ratio of 0.08. Ternium S.A. has a one year low of $35.22 and a one year high of $45.58. The business has a 50-day moving average price of $40.41 and a two-hundred day moving average price of $39.53.

Ternium (NYSE:TX) last posted its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.79. Ternium had a return on equity of 10.84% and a net margin of 3.84%. The company had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the previous year, the business earned $0.20 EPS. The company’s quarterly revenue was up 39.1% compared to the same quarter last year. Sell-side analysts predict that Ternium S.A. will post 6.91 EPS for the current year.

Ternium Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, May 3rd will be given a dividend of $2.20 per share. This is a positive change from Ternium’s previous Semi-Annual dividend of $1.10. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a dividend yield of 6.9%. Ternium’s dividend payout ratio (DPR) is 127.91%.

Analysts Set New Price Targets

TX has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Ternium from $48.00 to $51.50 and gave the company an “overweight” rating in a research report on Thursday, March 21st. The Goldman Sachs Group increased their price target on Ternium from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, TheStreet upgraded shares of Ternium from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $50.83.

Ternium Company Profile

Ternium SA, together with its subsidiaries, manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally. It operates through three segments: Steel, Mining, and Usiminas. The Steel segment offers slabs, hot and cold rolled products, coated products, roll formed and tubular products, bars, billets, and other products.