Empowered Funds LLC Raises Holdings in Ternium S.A. $TX

Key Points

• Empowered Funds LLC increased its Ternium stake by 69.4% in the first quarter, holding 161,171 shares valued at approximately $6.47 million. Institutional investors collectively own 11.98% of the company.
• Ternium reported quarterly earnings of $1.80 per share on $4.34 billion in revenue. Analysts expect full-year earnings of $6.07 per share.
• The stock opened at $53.78, near its 52-week high of $55.66. Analysts give Ternium a consensus “Moderate Buy” rating with a $47.94 price target, though recent ratings range from “Strong Buy” to “Hold.”

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its holdings in shares of 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 buying an additional 469,846 shares in the last quarter. Cape Ann Asset Management Ltd boosted its position in Ternium by 20.5% during 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 acquiring an additional 182,000 shares during the last quarter. Amundi boosted its position in Ternium by 19.9% during the first quarter. Amundi now owns 703,304 shares of the basic materials company's stock worth $28,238,000 after acquiring an additional 116,813 shares during the last quarter. Millennium Management LLC grew its stake in Ternium by 569.4% during the 1st quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company's stock valued at $3,952,000 after acquiring an additional 107,880 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Ternium by 586.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 97,202 shares of the basic materials company's stock valued at $3,903,000 after acquiring an additional 83,041 shares in the last quarter. Institutional investors and hedge funds own 11.98% of the company's stock.

Ternium Trading Down 0.9%

Shares of Ternium stock opened at $53.78 on Friday. The stock has a 50 day moving average of $47.25 and a 200 day moving average of $44.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.43 and a current ratio of 2.58. The firm has a market capitalization of $10.78 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 0.17 and a beta of 1.25. Ternium S.A. has a fifty-two week low of $31.64 and a fifty-two week high of $55.66.

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

Analyst Upgrades and Downgrades

TX has been the topic of several recent research reports. Weiss Ratings restated a "buy (b-)" rating on shares of Ternium in a report on Wednesday, May 20th. Wall Street Zen raised Ternium from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 12th. Zacks Research downgraded Ternium from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 30th. Bradesco Corretora raised Ternium to an "outperform" rating and set a $62.00 price objective on the stock in a research note on Tuesday, May 19th. Finally, Itau BBA Securities upgraded Ternium from a "market perform" rating to an "outperform" rating and set a $59.00 target price for the company in a report on Sunday, May 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Ternium has an average rating of "Moderate Buy" and a consensus target price of $47.94.

Ternium Company 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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