Ninety One North America Inc. Grows Stock Position in Ternium S.A. $TX

Key Points

• Ninety One North America Inc. increased its stake in Ternium S.A. by 23.4% in Q2, now holding over 1 million shares valued at approximately $30.8 million, making it the fund's 28th largest investment.
• Ternium reported an EPS of $1.28 for the last quarter, exceeding analyst expectations, but noted a 12.6% revenue decline year-over-year, totaling $3.95 billion.
• Analyst ratings for Ternium are mixed, with two giving a Buy rating and others issuing Hold or Sell ratings, while the average target price sits at $32.67.

Ninety One North America Inc. boosted its position in Ternium S.A. (NYSE:TX - Free Report) by 23.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,023,049 shares of the basic materials company's stock after buying an additional 194,174 shares during the quarter. Ternium makes up about 1.5% of Ninety One North America Inc.'s holdings, making the stock its 28th largest position. Ninety One North America Inc. owned about 0.51% of Ternium worth $30,794,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cape Ann Asset Management Ltd increased its position in Ternium by 15.0% in the first quarter. Cape Ann Asset Management Ltd now owns 871,685 shares of the basic materials company's stock worth $27,162,000 after buying an additional 113,536 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Ternium by 4.4% in the fourth quarter. Bank of America Corp DE now owns 80,912 shares of the basic materials company's stock worth $2,353,000 after acquiring an additional 3,398 shares during the period. Jump Financial LLC bought a new position in shares of Ternium in the first quarter worth $700,000. GAMMA Investing LLC boosted its holdings in shares of Ternium by 51.8% in the first quarter. GAMMA Investing LLC now owns 1,913 shares of the basic materials company's stock worth $60,000 after acquiring an additional 653 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Ternium in the first quarter worth $703,000. 11.98% of the stock is owned by hedge funds and other institutional investors.

Ternium Price Performance

Ternium stock opened at $34.85 on Wednesday. Ternium S.A. has a 52 week low of $24.00 and a 52 week high of $37.98. The business has a 50-day simple moving average of $33.18 and a 200 day simple moving average of $30.76. The company has a quick ratio of 1.59, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 11.50 and a beta of 1.47.

Ternium (NYSE:TX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The basic materials company reported $1.28 EPS for the quarter, topping the consensus estimate of $0.66 by $0.62. Ternium had a return on equity of 1.95% and a net margin of 3.66%.The business had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $4.19 billion. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm's revenue was down 12.6% on a year-over-year basis. On average, research analysts forecast that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About Ternium

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.

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