Ternium S.A. (NYSE:TX) Shares Acquired by Cape Ann Asset Management Ltd

Key Points

• Cape Ann Asset Management Ltd increased its stake in Ternium S.A. by 15.0%, owning a total of 871,685 shares, which constitute about 20.4% of its portfolio.
• Analysts have mixed views on Ternium, with Goldman Sachs lowering their price target from $39.00 to $35.00 while others have set targets as low as $25.00, leading to a consensus "Hold" rating and price target of $33.40.
• In the latest quarter, Ternium reported $0.55 earnings per share, exceeding expectations, but revenue declined 17.7% year-over-year to $3.93 billion.

Cape Ann Asset Management Ltd lifted its stake in Ternium S.A. (NYSE:TX - Free Report) by 15.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 871,685 shares of the basic materials company's stock after purchasing an additional 113,536 shares during the quarter. Ternium accounts for about 20.4% of Cape Ann Asset Management Ltd's investment portfolio, making the stock its 3rd largest holding. Cape Ann Asset Management Ltd owned 0.43% of Ternium worth $27,162,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. NewEdge Advisors LLC raised its stake in shares of Ternium by 500.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 1,000 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Ternium by 249.5% during the fourth quarter. Headlands Technologies LLC now owns 1,681 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 1,200 shares during the period. GAMMA Investing LLC increased its position in shares of Ternium by 51.8% during the first quarter. GAMMA Investing LLC now owns 1,913 shares of the basic materials company's stock valued at $60,000 after purchasing an additional 653 shares during the period. Aquatic Capital Management LLC increased its position in shares of Ternium by 28.4% during the fourth quarter. Aquatic Capital Management LLC now owns 2,182 shares of the basic materials company's stock valued at $63,000 after purchasing an additional 482 shares during the period. Finally, Cornerstone Select Advisors LLC bought a new stake in shares of Ternium during the fourth quarter valued at approximately $215,000. Institutional investors and hedge funds own 11.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Scotiabank lowered their price target on Ternium from $53.00 to $41.00 and set a "sector outperform" rating on the stock in a research report on Thursday, July 17th. The Goldman Sachs Group reduced their price objective on Ternium from $39.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley lowered Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 price objective on the stock. in a research note on Monday, July 21st. Finally, Bank of America reissued an "underperform" rating and issued a $25.00 price objective on shares of Ternium in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $33.40.

Ternium Stock Down 1.2%

TX stock traded down $0.38 during mid-day trading on Tuesday, reaching $31.37. The company had a trading volume of 113,528 shares, compared to its average volume of 225,754. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.00 and a quick ratio of 1.76. The stock has a 50 day simple moving average of $30.07 and a two-hundred day simple moving average of $29.68. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of -17.62 and a beta of 1.48. Ternium S.A. has a 52 week low of $24.00 and a 52 week high of $37.98.

Ternium (NYSE:TX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.22. Ternium had a positive return on equity of 0.29% and a negative net margin of 2.07%. The company had revenue of $3.93 billion during the quarter, compared to analysts' expectations of $4 billion. During the same period last year, the firm posted $1.84 earnings per share. The business's revenue was down 17.7% on a year-over-year basis. As a group, equities analysts predict that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

Ternium Company Profile

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.