Ninety One UK Ltd Reduces Stake in Ternium S.A. (NYSE:TX)

Ninety One UK Ltd reduced its stake in shares of Ternium S.A. (NYSE:TX - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,288,515 shares of the basic materials company's stock after selling 129,394 shares during the quarter. Ninety One UK Ltd owned approximately 1.14% of Ternium worth $71,310,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TX. NewEdge Advisors LLC increased its holdings in shares of Ternium by 500.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Headlands Technologies LLC increased its holdings in shares of Ternium by 249.5% in 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. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Ternium in the fourth quarter valued at about $54,000. GAMMA Investing LLC increased 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 valued at $60,000 after purchasing an additional 653 shares during the period. Finally, Aquatic Capital Management LLC increased its holdings in shares of Ternium by 28.4% in 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. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

Ternium Price Performance

TX traded down $0.26 during trading on Friday, hitting $31.98. The company's stock had a trading volume of 53,429 shares, compared to its average volume of 213,975. The company has a current ratio of 3.00, a quick ratio of 1.76 and a debt-to-equity ratio of 0.12. Ternium S.A. has a twelve month low of $24.00 and a twelve month high of $37.98. The business's fifty day simple moving average is $29.45 and its 200 day simple moving average is $29.48. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of -18.00 and a beta of 1.48.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America reissued an "underperform" rating and issued a $25.00 price objective on shares of Ternium in a report on Monday, April 7th. The Goldman Sachs Group cut their price objective on Ternium from $39.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd.

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.