Oldfield Partners LLP Sells 48,700 Shares of Ternium S.A. (NYSE:TX)

Key Points

• Oldfield Partners LLP reduced its stake in Ternium S.A. by 21.7%, now owning 176,036 shares valued at approximately $5.5 million, making Ternium its 11th largest holding.
• Several institutions, including Cape Ann Asset Management Ltd and Envestnet Asset Management Inc., have increased their stakes in Ternium during the same period, which reflects a mixed interest among institutional investors.
• Analysts have set various price targets for Ternium, with Scotiabank lowering its target from $53 to $41, while the consensus rating for the stock is currently a "Hold" with an average price target of $33.40.

Oldfield Partners LLP reduced its holdings in shares of Ternium S.A. (NYSE:TX - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,036 shares of the basic materials company's stock after selling 48,700 shares during the period. Ternium comprises 1.6% of Oldfield Partners LLP's investment portfolio, making the stock its 11th largest holding. Oldfield Partners LLP owned approximately 0.09% of Ternium worth $5,485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TX. NewEdge Advisors LLC lifted its stake 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 worth $35,000 after acquiring an additional 1,000 shares in the last quarter. Headlands Technologies LLC boosted its position in 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 last quarter. GAMMA Investing LLC increased its position in Ternium by 51.8% in the 1st quarter. GAMMA Investing LLC now owns 1,913 shares of the basic materials company's stock worth $60,000 after buying an additional 653 shares during the period. Aquatic Capital Management LLC boosted its stake in Ternium by 28.4% in the 4th quarter. Aquatic Capital Management LLC now owns 2,182 shares of the basic materials company's stock valued at $63,000 after buying an additional 482 shares in the last quarter. Finally, Cornerstone Select Advisors LLC acquired a new position in Ternium in the fourth quarter worth $215,000. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TX. Bank of America restated an "underperform" rating and set a $25.00 target price on shares of Ternium in a report on Monday, April 7th. Scotiabank lowered their target price 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. The Goldman Sachs Group lowered their price objective on shares of Ternium from $39.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Finally, Morgan Stanley lowered shares of Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 target price for the company. in a report on Monday, July 21st. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $33.40.

Ternium Stock Up 2.5%

Shares of Ternium stock traded up $0.79 during trading hours on Wednesday, hitting $32.36. 309,702 shares of the company's stock traded hands, compared to its average volume of 228,788. The company has a market cap of $6.49 billion, a PE ratio of -18.18 and a beta of 1.48. Ternium S.A. has a twelve month low of $24.00 and a twelve month high of $37.98. The stock has a 50 day simple moving average of $30.13 and a 200-day simple moving average of $29.69. The company has a quick ratio of 1.76, a current ratio of 3.00 and a debt-to-equity ratio of 0.12.

Ternium (NYSE:TX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.62. Ternium had a negative net margin of 2.07% and a positive return on equity of 0.29%. The company 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 posted ($0.11) EPS. The company's revenue for the quarter was down 12.6% on a year-over-year basis. Equities research analysts anticipate that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

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.