Acadian Asset Management LLC Sells 356,645 Shares of Ternium S.A. $TX

Key Points

• Acadian Asset Management LLC reduced its position in Ternium S.A. by 22.4%, selling 356,645 shares during the first quarter, and now holds approximately 1,238,084 shares valued at $38.57 million.
• Several hedge funds have adjusted their stakes in Ternium, with Millennium Management LLC notably increasing its stake by 70.8% in the fourth quarter.
• Ternium reported an earnings per share (EPS) of $1.28 for the last quarter, significantly surpassing analyst expectations of $0.66, despite overall revenue falling 12.6% year-over-year.

Acadian Asset Management LLC decreased its stake in Ternium S.A. (NYSE:TX - Free Report) by 22.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,238,084 shares of the basic materials company's stock after selling 356,645 shares during the quarter. Acadian Asset Management LLC owned approximately 0.62% of Ternium worth $38,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PointState Capital LP acquired a new position in shares of Ternium during the 4th quarter worth $4,112,000. Cape Ann Asset Management Ltd grew its stake in Ternium by 15.0% in the 1st quarter. Cape Ann Asset Management Ltd now owns 871,685 shares of the basic materials company's stock valued at $27,162,000 after buying an additional 113,536 shares during the last quarter. Millennium Management LLC grew its stake in Ternium by 569.4% in the 1st quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company's stock valued at $3,952,000 after buying an additional 107,880 shares during the last quarter. Woodline Partners LP grew its stake in Ternium by 28.0% in the 4th quarter. Woodline Partners LP now owns 365,693 shares of the basic materials company's stock valued at $10,634,000 after buying an additional 79,935 shares during the last quarter. Finally, Donald Smith & CO. Inc. grew its stake in Ternium by 2.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,099,790 shares of the basic materials company's stock valued at $96,589,000 after buying an additional 76,987 shares during the last quarter. Hedge funds and other institutional investors own 11.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TX shares. Wells Fargo & Company raised shares of Ternium to a "strong sell" rating in a report on Thursday, August 14th. Wall Street Zen raised shares of Ternium from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Scotiabank reduced their price target on shares of Ternium from $41.00 to $40.00 and set a "sector outperform" rating for the company in a report on Wednesday, September 3rd. Finally, Morgan Stanley downgraded shares of Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 price target for the company. in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $32.67.

Ternium Trading Down 1.3%

NYSE TX traded down $0.44 during trading on Friday, reaching $34.55. 327,779 shares of the stock traded hands, compared to its average volume of 173,903. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 11.40 and a beta of 1.47. The stock's 50-day moving average price is $32.40 and its 200 day moving average price is $30.42. The company has a quick ratio of 1.59, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Ternium S.A. has a fifty-two week low of $24.00 and a fifty-two week high of $37.98.

Ternium (NYSE:TX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.62. Ternium had a net margin of 3.66% and a return on equity of 1.95%. The firm had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $4.19 billion. During the same quarter in the previous year, the company earned ($0.11) earnings per share. The business's revenue for the quarter was down 12.6% on a year-over-year basis. Analysts predict that Ternium S.A. will post 4.37 EPS for the current year.

About Ternium

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.