Prudential PLC cut its position in shares of Ternium S.A. (NYSE:TX – Free Report) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 579,474 shares of the basic materials company’s stock after selling 138,119 shares during the quarter. Prudential PLC owned 0.29% of Ternium worth $22,130,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC boosted its position in Ternium by 8.5% during the third quarter. Lazard Asset Management LLC now owns 5,813,570 shares of the basic materials company’s stock valued at $201,905,000 after purchasing an additional 454,798 shares during the last quarter. Millennium Management LLC boosted its position in Ternium by 569.4% during the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock valued at $3,952,000 after purchasing an additional 107,880 shares during the last quarter. Schroder Investment Management Group boosted its position in Ternium by 4.7% during the third quarter. Schroder Investment Management Group now owns 2,279,273 shares of the basic materials company’s stock valued at $79,159,000 after purchasing an additional 101,748 shares during the last quarter. Amundi boosted its position in Ternium by 10.5% during the third quarter. Amundi now owns 562,913 shares of the basic materials company’s stock valued at $20,327,000 after purchasing an additional 53,645 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Ternium by 176.7% during the third quarter. Sei Investments Co. now owns 71,624 shares of the basic materials company’s stock valued at $2,488,000 after purchasing an additional 45,740 shares during the last quarter. 11.98% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Bradesco Corretora raised Ternium to an “outperform” rating and set a $62.00 price target for the company in a research report on Tuesday, May 19th. UBS Group raised their price objective on Ternium from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Ternium in a research report on Friday, May 22nd. Wells Fargo & Company raised their price objective on Ternium from $36.00 to $43.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Finally, Itau BBA Securities raised Ternium from a “market perform” rating to an “outperform” rating and set a $59.00 price objective for the company in a research report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ternium currently has an average rating of “Moderate Buy” and a consensus target price of $46.35.
Ternium Stock Performance
TX opened at $50.09 on Friday. Ternium S.A. has a 12-month low of $28.34 and a 12-month high of $51.73. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 17.21 and a beta of 1.28. The business has a 50 day moving average of $43.92 and a 200-day moving average of $41.46. The company has a quick ratio of 1.53, a current ratio of 2.63 and a debt-to-equity ratio of 0.14.
Ternium (NYSE:TX – Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share (EPS) for the quarter. Ternium had a return on equity of 3.70% and a net margin of 3.66%.The company had revenue of $3.93 billion during the quarter. On average, equities research analysts expect that Ternium S.A. will post 4.73 earnings per share for the current year.
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.
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