Empirical Finance LLC Trims Position in Ternium S.A. $TX

Key Points

• Empirical Finance LLC cut its Ternium stake by 43.7% in the second quarter, selling 70,430 shares and retaining 90,741 shares valued at approximately $3.88 million.
• Ternium shares rose 0.1% to $58.08, near the company’s 52-week high of $58.73. The steelmaker reported quarterly EPS of $1.80 on revenue of $4.34 billion.
• Analyst sentiment remains favorable, with six Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $54.50.

Empirical Finance LLC decreased its position in shares of Ternium S.A. (NYSE:TX - Free Report) by 43.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 90,741 shares of the basic materials company's stock after selling 70,430 shares during the quarter. Empirical Finance LLC's holdings in Ternium were worth $3,875,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Ternium by 49.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 232 shares during the period. 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 worth $32,000 after acquiring an additional 405 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in shares of Ternium during the fourth quarter worth about $36,000. Advisory Services Network LLC bought a new stake in Ternium during the 3rd quarter valued at approximately $38,000. Finally, JPMorgan Chase & Co. lifted its holdings in Ternium by 142.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company's stock worth $44,000 after purchasing an additional 736 shares in the last quarter. Institutional investors own 11.98% of the company's stock.

Ternium Trading Up 0.1%

Ternium stock traded up $0.08 during midday trading on Tuesday, reaching $58.08. The stock had a trading volume of 377,676 shares, compared to its average volume of 402,562. The company has a quick ratio of 1.43, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The firm has a market cap of $11.64 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 0.18 and a beta of 1.25. Ternium S.A. has a 52-week low of $33.01 and a 52-week high of $58.73. The company has a fifty day moving average of $50.03 and a 200 day moving average of $45.85.

Ternium (NYSE:TX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The basic materials company reported $1.80 EPS for the quarter. The firm had revenue of $4.34 billion for the quarter. Ternium had a net margin of 4.37% and a return on equity of 4.26%. On average, analysts anticipate that Ternium S.A. will post 6.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on TX. Itau BBA Securities raised shares of Ternium from a "market perform" rating to an "outperform" rating and set a $59.00 price objective for the company in a report on Sunday, May 24th. Bradesco Corretora raised shares of Ternium to an "outperform" rating and set a $62.00 target price for the company in a research note on Tuesday, May 19th. Wells Fargo & Company upgraded shares of Ternium from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $43.00 to $45.00 in a research note on Thursday, July 9th. Wall Street Zen upgraded Ternium from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 12th. Finally, UBS Group boosted their target price on Ternium from $56.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, August 27th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Ternium has a consensus rating of "Moderate Buy" and an average price target of $54.50.

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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