Russell Investments Group Ltd. lowered its position in Ternium SA (NYSE:TX) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 570,953 shares of the basic materials company’s stock after selling 25,218 shares during the period. Russell Investments Group Ltd. owned about 0.28% of Ternium worth $17,132,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Marietta Investment Partners LLC increased its holdings in Ternium by 1.4% during the second quarter. Marietta Investment Partners LLC now owns 177,819 shares of the basic materials company’s stock worth $6,192,000 after buying an additional 2,410 shares during the last quarter. Aperio Group LLC increased its holdings in Ternium by 23.3% during the second quarter. Aperio Group LLC now owns 16,020 shares of the basic materials company’s stock worth $558,000 after buying an additional 3,032 shares during the last quarter. First Quadrant L P CA purchased a new stake in Ternium during the second quarter worth about $188,000. Smith Asset Management Group LP increased its holdings in Ternium by 15.3% during the second quarter. Smith Asset Management Group LP now owns 41,166 shares of the basic materials company’s stock worth $1,433,000 after buying an additional 5,450 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Ternium by 15.9% during the second quarter. Advisors Asset Management Inc. now owns 42,599 shares of the basic materials company’s stock worth $1,483,000 after buying an additional 5,830 shares during the last quarter. Institutional investors own 17.57% of the company’s stock.
NYSE TX opened at $31.35 on Friday. Ternium SA has a 52-week low of $25.52 and a 52-week high of $42.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.01 and a quick ratio of 0.86. The stock has a market cap of $6.43 billion, a P/E ratio of 4.59, a P/E/G ratio of 0.59 and a beta of 0.91.
Ternium (NYSE:TX) last issued its earnings results on Tuesday, October 30th. The basic materials company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.89. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $3.04 billion. Ternium had a net margin of 11.58% and a return on equity of 21.81%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $0.99 earnings per share. On average, equities research analysts anticipate that Ternium SA will post 6.89 EPS for the current year.
A number of research firms recently issued reports on TX. Zacks Investment Research downgraded shares of Ternium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Bank of America restated an “underperform” rating and set a $32.00 price objective on shares of Ternium in a report on Thursday, August 16th. Finally, ValuEngine upgraded shares of Ternium from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Ternium currently has an average rating of “Hold” and an average price target of $40.67.
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 coils and sheets, bars and stirrups, wire rods, cold-rolled coils and sheets, tin plates, hot dipped galvanized and electrogalvanized sheets and pre-painted sheets, steel pipes and tubular products, beams, and roll formed products, as well as other products, such as pig iron.
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