Amundi Increases Stake in Ternium S.A. $TX

Key Points

• Amundi increased its Ternium stake by 19.9% in the first quarter, adding 116,813 shares to own 703,304 shares valued at approximately $28.2 million. Several other institutional investors also raised their positions, while institutions collectively own 11.98% of the stock.
• Analyst sentiment remains generally positive, with Ternium holding a “Moderate Buy” consensus rating and an average price target of $47.94; targets from individual firms range from $57 to $62, although Zacks downgraded the stock to “Hold.”
• Ternium shares opened at $49.75, near their 12-month high of $51.73. The company recently reported quarterly revenue of $3.93 billion and earnings of $1.10 per share, while analysts expect full-year earnings of $5.71 per share.

Amundi raised its holdings in Ternium S.A. (NYSE:TX - Free Report) by 19.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 703,304 shares of the basic materials company's stock after purchasing an additional 116,813 shares during the quarter. Amundi owned 0.35% of Ternium worth $28,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TX. Empirical Finance LLC raised its stake in Ternium by 69.4% in the 1st quarter. Empirical Finance LLC now owns 161,171 shares of the basic materials company's stock valued at $6,471,000 after acquiring an additional 66,042 shares during the period. Lazard Asset Management LLC boosted its position in Ternium by 8.0% during the first quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company's stock worth $254,395,000 after purchasing an additional 469,846 shares during the period. Militia Capital Management LLC bought a new position in Ternium during the first quarter worth about $1,486,000. Deprince Race & Zollo Inc. boosted its position in Ternium by 17.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 118,482 shares of the basic materials company's stock worth $4,525,000 after purchasing an additional 17,461 shares during the period. Finally, Cape Ann Asset Management Ltd increased its stake in shares of Ternium by 20.5% in the fourth quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company's stock worth $40,812,000 after purchasing an additional 182,000 shares in the last quarter. 11.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TX has been the topic of a number of analyst reports. The Goldman Sachs Group reissued a "buy" rating and set a $57.00 target price on shares of Ternium in a report on Friday, May 22nd. Zacks Research cut Ternium from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 30th. Itau BBA Securities upgraded Ternium from a "market perform" rating to an "outperform" rating and set a $59.00 price objective on the stock in a research note on Sunday, May 24th. Bradesco Corretora raised Ternium to an "outperform" rating and set a $62.00 price objective on the stock in a report on Tuesday, May 19th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Ternium in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $47.94.

Ternium Stock Up 1.0%

Shares of NYSE TX opened at $49.75 on Tuesday. Ternium S.A. has a 12 month low of $30.44 and a 12 month high of $51.73. The company has a current ratio of 2.63, a quick ratio of 1.53 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 0.18 and a beta of 1.25. The business has a 50-day moving average of $46.50 and a 200-day moving average of $43.80.

Ternium (NYSE:TX - Get Free Report) last announced its earnings results on Tuesday, March 31st. The basic materials company reported $1.10 earnings per share for the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. The business had revenue of $3.93 billion for the quarter. Sell-side analysts expect that Ternium S.A. will post 5.71 earnings per share for the current fiscal year.

About Ternium

Ternium SA NYSE: TX is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.

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