Virtus ETF Advisers LLC raised its position in Ternium S.A. (NYSE:TX) by 3.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 82,288 shares of the basic materials company’s stock after acquiring an additional 2,976 shares during the period. Ternium makes up 0.8% of Virtus ETF Advisers LLC’s investment portfolio, making the stock its 3rd largest holding. Virtus ETF Advisers LLC’s holdings in Ternium were worth $1,549,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. bought a new position in shares of Ternium during the first quarter worth about $39,000. Prudential PLC increased its holdings in Ternium by 10.3% in the second quarter. Prudential PLC now owns 2,033,422 shares of the basic materials company’s stock worth $30,847,000 after buying an additional 189,937 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Ternium in the second quarter worth approximately $243,000. Principal Financial Group Inc. acquired a new position in Ternium in the second quarter worth approximately $2,341,000. Finally, Aigen Investment Management LP increased its holdings in Ternium by 233.9% in the second quarter. Aigen Investment Management LP now owns 22,575 shares of the basic materials company’s stock worth $342,000 after buying an additional 15,814 shares during the last quarter. Institutional investors own 18.01% of the company’s stock.
Ternium stock traded up $0.13 during mid-day trading on Monday, hitting $27.40. 5,541 shares of the company were exchanged, compared to its average volume of 321,348. Ternium S.A. has a 1-year low of $9.59 and a 1-year high of $27.63. The company has a market capitalization of $5.35 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.07 and a beta of 1.25. The company has a quick ratio of 1.28, a current ratio of 2.39 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $22.01 and a 200 day moving average of $17.84.
Ternium (NYSE:TX) last announced its earnings results on Tuesday, November 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.48. Ternium had a return on equity of 4.71% and a net margin of 2.21%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $0.48 earnings per share. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. Research analysts expect that Ternium S.A. will post 1.48 earnings per share for the current year.
Several equities analysts have commented on TX shares. ValuEngine downgraded Ternium from a “hold” rating to a “sell” rating in a report on Tuesday, November 10th. Zacks Investment Research upgraded Ternium from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Saturday, August 29th. JPMorgan Chase & Co. upgraded Ternium from a “neutral” rating to an “overweight” rating and increased their price target for the company from $19.50 to $26.50 in a report on Friday, November 6th. Finally, UBS Group raised Ternium from a “sell” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $28.00 in a research report on Tuesday, November 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $23.21.
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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