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 cut its position in shares of Ternium S.A. (NYSE:TX - Free Report) by 21.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 176,036 shares of the basic materials company's stock after selling 48,700 shares during the period. Ternium makes up 1.6% of Oldfield Partners LLP's portfolio, making the stock its 11th largest holding. Oldfield Partners LLP owned about 0.09% of Ternium worth $5,485,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TX. NewEdge Advisors LLC increased its stake in Ternium by 500.0% during the 4th 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 in the last quarter. Headlands Technologies LLC lifted its holdings 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 in the last quarter. GAMMA Investing LLC lifted its holdings in 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 in the last quarter. Aquatic Capital Management LLC lifted its stake 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 worth $63,000 after buying an additional 482 shares in the last quarter. Finally, Cornerstone Select Advisors LLC purchased a new position in Ternium during the fourth quarter worth about $215,000. 11.98% of the stock is owned by hedge funds and other institutional investors.

Ternium Stock Performance

TX traded down $0.05 during trading on Monday, hitting $31.75. The stock had a trading volume of 261,100 shares, compared to its average volume of 172,253. The company has a 50 day moving average price of $30.07 and a 200-day moving average price of $29.68. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of -17.84 and a beta of 1.48. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.00 and a quick ratio of 1.76. 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 posted its earnings results on Tuesday, April 29th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates 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%. The company's revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter last year, the company earned $1.84 earnings per share. As a group, research analysts predict that Ternium S.A. will post 4.37 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.