Engineers Gate Manager LP Purchases 46,897 Shares of Ternium S.A. $TX

Key Points

• Engineers Gate Manager LP increased its Ternium stake by 496.8% in the second quarter, purchasing 46,897 shares for a total holding of 56,337 shares valued at approximately $2.4 million.
• Ternium reported quarterly EPS of $1.80 on $4.34 billion in revenue, while analysts expect full-year EPS of $6.54. The stock opened at $55.95, near its 52-week high of $58.73.
• Analyst sentiment remains favorable, with six Buy ratings and five Holds, producing a “Moderate Buy” consensus. JPMorgan raised its price target to $67.50, while the average consensus target is $54.50.

Engineers Gate Manager LP grew its position in Ternium S.A. (NYSE:TX - Free Report) by 496.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,337 shares of the basic materials company's stock after purchasing an additional 46,897 shares during the quarter. Engineers Gate Manager LP's holdings in Ternium were worth $2,406,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in Ternium by 49.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 232 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Ternium by 101.2% during the first quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company's stock worth $32,000 after buying an additional 405 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ternium by 18.0% during the second quarter. GAMMA Investing LLC now owns 2,166 shares of the basic materials company's stock worth $92,000 after buying an additional 331 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Ternium in the first quarter valued at about $208,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Ternium in the first quarter valued at about $210,000. Institutional investors own 11.98% of the company's stock.

Ternium Stock Performance

TX opened at $55.95 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.43 and a current ratio of 2.58. Ternium S.A. has a 52-week low of $33.01 and a 52-week high of $58.73. The firm has a market cap of $11.22 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 0.17 and a beta of 1.25. The business's fifty day moving average is $51.58 and its 200-day moving average is $46.35.

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. Ternium had a return on equity of 4.26% and a net margin of 4.37%.The business had revenue of $4.34 billion during the quarter. Sell-side analysts expect that Ternium S.A. will post 6.54 EPS for the current fiscal year.

Analyst Ratings Changes

TX has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Ternium from $60.50 to $67.50 and gave the stock an "overweight" rating in a research report on Friday, September 4th. The Goldman Sachs Group reissued a "buy" rating and issued a $57.00 price objective on shares of Ternium in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Ternium from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 12th. HSBC reaffirmed a "hold" rating and set a $55.00 target price (up from $53.00) on shares of Ternium in a report on Friday, August 21st. Finally, Weiss Ratings upgraded shares of Ternium from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.50.

About Ternium

Ternium SA NYSE: TX is a steel producer serving customers across the Americas. The company manufactures and distributes a broad range of steel products, including flat steel, long steel, slabs, billets, hot- and cold-rolled steel, galvanized steel, tinplate, rebar and wire rod.

Its products are used in a variety of industries, including automotive manufacturing, construction, appliances, energy, machinery and transportation. Ternium operates an integrated production network with steelmaking, rolling, finishing and distribution facilities, allowing it to supply both commodity and value-added steel products.

Ternium has operations and commercial activities in countries including Mexico, Argentina, Brazil, Colombia, the United States and several other Latin American markets.

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