Caxton Associates LLP Purchases New Position in Ternium S.A. $TX

Key Points

• Caxton Associates LLP has acquired a new stake of 17,335 shares in Ternium S.A., valued at approximately $540,000, during the first quarter.
• Research analysts have mixed ratings on Ternium, with two upgrades to a "buy" rating and a "strong sell" rating from Wells Fargo, leading to an average target price of $32.67.
• Ternium's recent quarterly earnings report showed $1.28 EPS, significantly exceeding expectations, but its revenue fell 12.6% year-over-year.

Caxton Associates LLP purchased a new stake in shares of Ternium S.A. (NYSE:TX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 17,335 shares of the basic materials company's stock, valued at approximately $540,000.

Several other hedge funds have also bought and sold shares of TX. Millennium Management LLC grew its stake in shares of Ternium by 569.4% in the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company's stock worth $3,952,000 after acquiring an additional 107,880 shares during the last quarter. Amundi boosted its stake in Ternium by 3.4% in the 1st quarter. Amundi now owns 490,076 shares of the basic materials company's stock worth $14,550,000 after purchasing an additional 16,006 shares in the last quarter. Royal Bank of Canada grew its position in Ternium by 31.5% during the 1st quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company's stock valued at $840,000 after purchasing an additional 6,453 shares during the last quarter. Vident Advisory LLC grew its position in Ternium by 60.4% during the 1st quarter. Vident Advisory LLC now owns 12,276 shares of the basic materials company's stock valued at $383,000 after purchasing an additional 4,624 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in Ternium during the 1st quarter valued at about $700,000. Institutional investors own 11.98% of the company's stock.

Analyst Ratings Changes

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

Ternium Trading Up 0.4%

NYSE TX traded up $0.15 during trading on Wednesday, hitting $35.55. The stock had a trading volume of 18,949 shares, compared to its average volume of 222,994. Ternium S.A. has a one year low of $24.00 and a one year high of $37.98. The stock has a 50 day simple moving average of $32.52 and a 200 day simple moving average of $30.50. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 11.73 and a beta of 1.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.59 and a current ratio of 2.68.

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

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.