Empirical Finance LLC Buys 66,042 Shares of Ternium S.A. $TX

Key Points

• Empirical Finance LLC increased its Ternium stake by 69.4% in the first quarter, buying 66,042 additional shares and bringing its total holding to 161,171 shares worth about $6.47 million.
• Other institutions also added to positions in Ternium, with notable buying from Arrowstreet Capital, Militia Capital Management, Sanctuary Advisors, and others; institutional investors now own 11.98% of the company.
• Analyst sentiment is constructive, with several firms upgrading or reiterating bullish ratings and a consensus price target of $47.94, while Ternium’s shares recently traded near $47.30 after reporting quarterly EPS of $1.10 on $3.93 billion in revenue.

Empirical Finance LLC lifted its position in shares of Ternium S.A. (NYSE:TX - Free Report) by 69.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,171 shares of the basic materials company's stock after buying an additional 66,042 shares during the quarter. Empirical Finance LLC owned about 0.08% of Ternium worth $6,471,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of Ternium by 586.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 97,202 shares of the basic materials company's stock worth $3,903,000 after purchasing an additional 83,041 shares during the period. Militia Capital Management LLC bought a new stake in shares of Ternium in the first quarter valued at approximately $1,486,000. Parallel Advisors LLC boosted its stake in shares of Ternium by 101.2% in the first quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company's stock valued at $32,000 after buying an additional 405 shares during the period. Sanctuary Advisors LLC acquired a new stake in Ternium during the first quarter worth approximately $772,000. Finally, QRG Capital Management Inc. increased its stake in Ternium by 7.1% during the 1st quarter. QRG Capital Management Inc. now owns 7,549 shares of the basic materials company's stock worth $303,000 after acquiring an additional 501 shares during the period. Institutional investors own 11.98% of the company's stock.

Ternium Stock Up 0.3%

TX stock opened at $47.30 on Friday. The firm has a 50-day moving average price of $46.00 and a 200-day moving average price of $43.42. 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 stock has a market capitalization of $9.48 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 0.17 and a beta of 1.29.

Ternium (NYSE:TX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The basic materials company reported $1.10 EPS for the quarter. The business had revenue of $3.93 billion during the quarter. Ternium had a net margin of 3.66% and a return on equity of 3.70%. As a group, equities research analysts anticipate that Ternium S.A. will post 5.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TX shares. Bradesco Corretora raised Ternium to an "outperform" rating and set a $62.00 price target for the company in a research note on Tuesday, May 19th. Itau BBA Securities raised shares of Ternium from a "market perform" rating to an "outperform" rating and set a $59.00 target price on the stock in a report on Sunday, May 24th. Wells Fargo & Company upgraded shares of Ternium from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $43.00 to $45.00 in a research report on Thursday, July 9th. The Goldman Sachs Group reiterated a "buy" rating and set a $57.00 price target on shares of Ternium in a research report on Friday, May 22nd. Finally, Zacks Research raised shares of Ternium from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.94.

Ternium Profile

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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