Balyasny Asset Management L.P. Sells 8,979 Shares of Ternium S.A. (NYSE:TX)

Balyasny Asset Management L.P. cut its position in shares of Ternium S.A. (NYSE:TX - Free Report) by 53.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,847 shares of the basic materials company's stock after selling 8,979 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Ternium were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Ternium by 11.6% during the fourth quarter. Principal Financial Group Inc. now owns 91,138 shares of the basic materials company's stock valued at $2,650,000 after buying an additional 9,459 shares during the last quarter. Ninety One UK Ltd raised its stake in Ternium by 2.9% during the fourth quarter. Ninety One UK Ltd now owns 2,417,909 shares of the basic materials company's stock valued at $70,313,000 after buying an additional 68,366 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in Ternium during the fourth quarter valued at $204,000. Envestnet Asset Management Inc. raised its stake in Ternium by 8.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,080 shares of the basic materials company's stock valued at $933,000 after buying an additional 2,462 shares during the last quarter. Finally, Donald Smith & CO. Inc. raised its stake in Ternium by 19.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,022,803 shares of the basic materials company's stock valued at $87,903,000 after buying an additional 483,052 shares during the last quarter. 11.98% of the stock is currently owned by institutional investors.

Ternium Stock Down 0.2%

Shares of TX stock traded down $0.06 during mid-day trading on Friday, hitting $27.69. The company's stock had a trading volume of 112,094 shares, compared to its average volume of 217,727. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.67 and a current ratio of 2.88. Ternium S.A. has a 52-week low of $24.00 and a 52-week high of $43.68. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of -98.90, a PEG ratio of 0.38 and a beta of 1.53. The business has a 50-day moving average price of $28.78 and a 200 day moving average price of $30.13.

Ternium (NYSE:TX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. Ternium had a positive return on equity of 1.82% and a negative net margin of 0.31%. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. Ternium's revenue was down 17.7% compared to the same quarter last year. Research analysts predict that Ternium S.A. will post 4.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on TX shares. Bank of America reiterated an "underperform" rating and set a $25.00 price objective on shares of Ternium in a research note on Monday, April 7th. The Goldman Sachs Group lowered their price objective on Ternium from $39.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, UBS Group assumed coverage on Ternium in a research note on Wednesday, March 12th. They issued a "neutral" rating and a $32.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $37.00.

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.