Cape Ann Asset Management Ltd Buys 113,536 Shares of Ternium S.A. (NYSE:TX)

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 raised its position in Ternium S.A. (NYSE:TX - Free Report) by 15.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 20.4% of Cape Ann Asset Management Ltd's portfolio, making the stock its 3rd largest holding. Cape Ann Asset Management Ltd owned about 0.43% of Ternium worth $27,162,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Aquatic Capital Management LLC grew its stake in Ternium by 28.4% during the 4th 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 in the last quarter. GAMMA Investing LLC grew its stake in Ternium by 51.8% during the 1st 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 in the last quarter. Cetera Investment Advisers grew its stake in Ternium by 10.1% during the 1st quarter. Cetera Investment Advisers now owns 9,671 shares of the basic materials company's stock valued at $301,000 after purchasing an additional 890 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Ternium by 500.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company's stock worth $35,000 after buying an additional 1,000 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Ternium by 249.5% during the 4th quarter. Headlands Technologies LLC now owns 1,681 shares of the basic materials company's stock worth $49,000 after buying an additional 1,200 shares during the last quarter. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Ternium Stock Performance

Ternium stock traded up $0.37 during mid-day trading on Friday, hitting $31.80. 140,447 shares of the company's stock traded hands, compared to its average volume of 184,946. The firm has a 50 day moving average price of $30.00 and a 200 day moving average price of $29.65. The company has a quick ratio of 1.76, a current ratio of 3.00 and a debt-to-equity ratio of 0.12. The company has a market cap of $6.37 billion, a PE ratio of -17.87 and a beta of 1.48. Ternium S.A. has a one year low of $24.00 and a one year high of $37.98.

Ternium (NYSE:TX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the business earned $1.84 EPS. The firm's revenue for the quarter was down 17.7% on a year-over-year basis. On average, equities analysts forecast that Ternium S.A. will post 4.37 EPS for the current year.

Ternium 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.