Prudential PLC Sells 16,956 Shares of Ternium S.A. (NYSE:TX)

Key Points

• Prudential PLC reduced its stake in Ternium S.A. by 2.2%, now holding approximately 753,494 shares valued at $23.48 million.
• Several large investors, including PointState Capital and GAMMA Investing LLC, have increased their positions in Ternium, showing strong institutional interest.
• Ternium's recent earnings report beat estimates with an EPS of $1.28, though revenue was down 12.6% year-over-year, totaling $3.95 billion.

Prudential PLC decreased its stake in Ternium S.A. (NYSE:TX - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 753,494 shares of the basic materials company's stock after selling 16,956 shares during the quarter. Prudential PLC owned 0.38% of Ternium worth $23,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Donald Smith & CO. Inc. increased its holdings in shares of Ternium by 2.5% in the first quarter. Donald Smith & CO. Inc. now owns 3,099,790 shares of the basic materials company's stock worth $96,589,000 after acquiring an additional 76,987 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Ternium in the first quarter worth about $703,000. Cape Ann Asset Management Ltd grew its holdings in shares of Ternium by 15.0% during 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 in the last quarter. Cetera Investment Advisers grew its holdings in shares of Ternium by 10.1% during the first quarter. Cetera Investment Advisers now owns 9,671 shares of the basic materials company's stock worth $301,000 after buying an additional 890 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of Ternium during the first quarter worth about $441,000. 11.98% of the stock is currently owned by institutional investors.

Ternium Price Performance

Ternium stock traded up $0.26 during mid-day trading on Friday, reaching $32.50. 208,109 shares of the company were exchanged, compared to its average volume of 228,883. The company has a fifty day simple moving average of $31.11 and a 200-day simple moving average of $29.95. Ternium S.A. has a 12 month low of $24.00 and a 12 month high of $37.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 1.59. The firm has a market cap of $6.52 billion, a PE ratio of 10.73 and a beta of 1.53.

Ternium (NYSE:TX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same quarter last year, the company posted ($0.11) EPS. The company's revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, equities research analysts expect that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley downgraded Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 price target for the company. in a research note on Monday, July 21st. Wells Fargo & Company upgraded Ternium to a "strong sell" rating in a research note on Thursday. Finally, Scotiabank lowered their price objective on Ternium from $53.00 to $41.00 and set a "sector outperform" rating on the stock in a research note on Thursday, July 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $32.83.

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.