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 lowered its holdings in shares of Ternium S.A. (NYSE:TX - Free Report) by 22.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and 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 reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cape Ann Asset Management Ltd grew its position in shares of Ternium by 15.0% during the first quarter. Cape Ann Asset Management Ltd now owns 871,685 shares of the basic materials company's stock worth $27,162,000 after purchasing an additional 113,536 shares in the last quarter. Bank of America Corp DE grew its position in shares of Ternium by 4.4% during the fourth quarter. Bank of America Corp DE now owns 80,912 shares of the basic materials company's stock worth $2,353,000 after purchasing an additional 3,398 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Ternium during the first quarter worth about $700,000. GAMMA Investing LLC grew its position in shares of Ternium by 51.8% during the first quarter. GAMMA Investing LLC now owns 1,913 shares of the basic materials company's stock worth $60,000 after purchasing an additional 653 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Ternium during the first quarter worth about $703,000. Hedge funds and other institutional investors own 11.98% of the company's stock.

Ternium Trading Up 1.0%

Shares of Ternium stock traded up $0.35 on Tuesday, reaching $35.14. The company had a trading volume of 46,678 shares, compared to its average volume of 223,831. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 11.60 and a beta of 1.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 1.59. The firm's 50-day moving average price is $32.46 and its two-hundred day moving average price is $30.47. Ternium S.A. has a 1 year low of $24.00 and a 1 year high of $37.98.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen upgraded Ternium from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Scotiabank cut their price target on Ternium from $41.00 to $40.00 and set a "sector outperform" rating for the company in a report on Wednesday, September 3rd. Morgan Stanley cut 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. Finally, Wells Fargo & Company upgraded Ternium to a "strong sell" rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $32.67.

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.