Ninety One UK Ltd Buys 118,595 Shares of Ternium S.A. $TX

Key Points

• Ninety One UK Ltd increased its stake in Ternium S.A. by 5.2%, acquiring an additional 118,595 shares during the second quarter, bringing its total holdings to 2,407,110 shares valued at approximately $72.45 million.
• Ternium reported a quarterly earnings per share (EPS) of $1.28, significantly exceeding the consensus estimate of $0.66, although revenue declined 12.6% year-over-year.
• Analysts hold mixed ratings on Ternium, with a consensus rating of "Hold" and a price target averaging $32.67, alongside upgrades and downgrades from various investment firms.

Ninety One UK Ltd increased its position in shares of Ternium S.A. (NYSE:TX - Free Report) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,407,110 shares of the basic materials company's stock after purchasing an additional 118,595 shares during the period. Ninety One UK Ltd owned 1.20% of Ternium worth $72,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Arrow Investment Advisors LLC bought a new stake in shares of Ternium during the 2nd quarter valued at $221,000. Investors Research Corp raised its position in shares of Ternium by 166.2% during the 2nd quarter. Investors Research Corp now owns 17,300 shares of the basic materials company's stock valued at $521,000 after purchasing an additional 10,800 shares during the period. Caxton Associates LLP bought a new stake in shares of Ternium during the 1st quarter valued at $540,000. Millennium Management LLC raised its position in shares of 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 purchasing an additional 107,880 shares during the period. Finally, Amundi boosted its stake in Ternium by 3.4% in the 1st quarter. Amundi now owns 490,076 shares of the basic materials company's stock worth $14,550,000 after purchasing an additional 16,006 shares during the period. 11.98% of the stock is currently owned by institutional investors.

Ternium Price Performance

TX 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 company has a quick ratio of 1.59, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $33.18 and a two-hundred day simple moving average of $30.76. The firm has a market capitalization of $6.99 billion, a P/E ratio of 11.50 and a beta of 1.47.

Ternium (NYSE:TX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.28 EPS for the quarter, beating the consensus estimate of $0.66 by $0.62. Ternium had a net margin of 3.66% and a return on equity of 1.95%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter last year, the business earned ($0.11) earnings per share. Ternium's quarterly revenue was down 12.6% compared to the same quarter last year. Analysts anticipate that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company upgraded Ternium to a "strong sell" rating in a research note on Thursday, August 14th. Scotiabank cut their target price on shares of Ternium from $41.00 to $40.00 and set a "sector outperform" rating for the company in a research note on Wednesday, September 3rd. Wall Street Zen raised shares of Ternium from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Morgan Stanley cut shares of Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 target price for the company. in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target 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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