Oaktree Capital Management LP Cuts Stock Holdings in Ternium S.A. $TX

Oaktree Capital Management LP reduced its stake in Ternium S.A. (NYSE:TX) by 2.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 897,509 shares of the basic materials company’s stock after selling 22,200 shares during the quarter. Oaktree Capital Management LP’s holdings in Ternium were worth $31,170,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Ternium by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,061 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 303 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Ternium by 142.1% in the third quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 736 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Ternium by 17.5% during the third quarter. Blue Trust Inc. now owns 2,247 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 335 shares in the last quarter. State of Wyoming purchased a new position in Ternium during the second quarter worth about $119,000. Finally, Rexford Capital Inc. bought a new stake in Ternium in the 2nd quarter worth about $121,000. 11.98% of the stock is currently owned by institutional investors.

Ternium Stock Performance

Shares of TX traded down $0.35 during mid-day trading on Friday, hitting $38.02. The stock had a trading volume of 8,769 shares, compared to its average volume of 231,244. Ternium S.A. has a 52 week low of $24.00 and a 52 week high of $45.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.49 and a quick ratio of 1.45. The business has a fifty day moving average price of $42.24 and a 200-day moving average price of $38.19. The firm has a market cap of $7.62 billion, a P/E ratio of 17.51 and a beta of 1.32.

Ternium (NYSE:TX) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.15). The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Ternium had a return on equity of 3.06% and a net margin of 2.72%.The company’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business posted ($0.42) EPS. On average, equities research analysts expect that Ternium S.A. will post 4.37 EPS for the current year.

Ternium Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, May 14th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a yield of 413.0%. Ternium’s dividend payout ratio (DPR) is 83.33%.

Analyst Ratings Changes

Several equities analysts have commented on TX shares. Zacks Research cut shares of Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. UBS Group lifted their price target on Ternium from $32.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, December 15th. Weiss Ratings raised Ternium from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company lowered their target price on Ternium from $34.00 to $33.00 and set an “underweight” rating on the stock in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.94.

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.