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

Ninety One UK Ltd cut its stake in shares of Ternium S.A. (NYSE:TX) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,288,515 shares of the basic materials company’s stock after selling 129,394 shares during the quarter. Ninety One UK Ltd owned 1.14% of Ternium worth $71,310,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Donald Smith & CO. Inc. lifted its holdings in Ternium by 19.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,022,803 shares of the basic materials company’s stock valued at $87,903,000 after acquiring an additional 483,052 shares during the period. Woodline Partners LP lifted its holdings in Ternium by 28.0% in the fourth quarter. Woodline Partners LP now owns 365,693 shares of the basic materials company’s stock valued at $10,634,000 after acquiring an additional 79,935 shares during the period. Renaissance Technologies LLC lifted its holdings in Ternium by 10.4% in the fourth quarter. Renaissance Technologies LLC now owns 304,400 shares of the basic materials company’s stock valued at $8,852,000 after acquiring an additional 28,700 shares during the period. Wellington Management Group LLP lifted its holdings in Ternium by 15.5% in the fourth quarter. Wellington Management Group LLP now owns 208,827 shares of the basic materials company’s stock valued at $6,073,000 after acquiring an additional 28,054 shares during the period. Finally, PointState Capital LP acquired a new stake in Ternium in the fourth quarter valued at $4,112,000. 11.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on TX. Bank of America reissued an “underperform” rating and issued a $25.00 target price on shares of Ternium in a report on Monday, April 7th. The Goldman Sachs Group reduced their target price on Ternium from $39.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Finally, UBS Group began coverage on Ternium in a report on Wednesday, March 12th. They issued a “neutral” rating and a $32.00 target price for the company.

Ternium Trading Down 1.5%

NYSE:TX opened at $31.61 on Tuesday. The company has a market capitalization of $6.34 billion, a PE ratio of -17.76 and a beta of 1.48. The company has a quick ratio of 1.76, a current ratio of 3.00 and a debt-to-equity ratio of 0.12. Ternium S.A. has a 52-week low of $24.00 and a 52-week high of $37.98. The stock has a fifty day simple moving average of $29.27 and a 200-day simple moving average of $29.41.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, April 29th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.22. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $4 billion. Ternium had a positive return on equity of 0.29% and a negative net margin of 2.07%. The business’s revenue was down 17.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 EPS. On average, equities research analysts expect that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

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.