Parametric Portfolio Associates LLC lowered its stake in Ternium S.A. (NYSE:TX) by 13.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,386 shares of the basic materials company’s stock after selling 39,912 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.13% of Ternium worth $7,399,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in TX. Comerica Bank grew its stake in shares of Ternium by 1.3% in the 1st quarter. Comerica Bank now owns 11,493 shares of the basic materials company’s stock valued at $293,000 after buying an additional 149 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Ternium in the 1st quarter worth approximately $397,000. Ameriprise Financial Inc. lifted its holdings in Ternium by 6.5% in the 1st quarter. Ameriprise Financial Inc. now owns 10,772 shares of the basic materials company’s stock worth $281,000 after purchasing an additional 654 shares during the last quarter. OppenheimerFunds Inc. acquired a new stake in Ternium in the 1st quarter worth approximately $3,134,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Ternium by 0.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 62,583 shares of the basic materials company’s stock worth $1,635,000 after purchasing an additional 167 shares during the last quarter. 19.13% of the stock is currently owned by institutional investors.
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TX has been the subject of several analyst reports. Zacks Investment Research upgraded Ternium from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Wednesday, July 5th. BidaskClub upgraded Ternium from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Credit Suisse Group reiterated a “hold” rating and set a $24.00 price target on shares of Ternium in a report on Thursday, August 3rd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $35.00 price target (up from $33.00) on shares of Ternium in a report on Friday, July 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $30.50.
Shares of Ternium S.A. (NYSE:TX) opened at 32.35 on Friday. The firm has a 50-day moving average price of $31.32 and a 200-day moving average price of $28.40. Ternium S.A. has a 12 month low of $21.62 and a 12 month high of $33.39. The company has a market capitalization of $6.35 billion, a PE ratio of 7.40 and a beta of 1.08.
Ternium (NYSE:TX) last posted its earnings results on Tuesday, August 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.14. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Ternium had a return on equity of 16.61% and a net margin of 11.05%. Ternium’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. On average, equities research analysts predict that Ternium S.A. will post $4.08 EPS for the current year.
Ternium Company Profile
Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.
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