Ternium S.A. $TX Shares Bought by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D increased its stake in Ternium S.A. by 12.4%, acquiring 10,193 additional shares, bringing its total holdings to 92,528 shares valued at approximately $2.88 million.
• Several brokerage firms have recently adjusted their ratings on Ternium, with Morgan Stanley downgrading it from "overweight" to "equal weight" and setting a target price at $34.00.
• Ternium reported an EPS of $1.28 for the last quarter, significantly surpassing analyst expectations, although revenue declined by 12.6% year-over-year, totaling $3.95 billion.

State of New Jersey Common Pension Fund D boosted its holdings in shares of Ternium S.A. (NYSE:TX - Free Report) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,528 shares of the basic materials company's stock after buying an additional 10,193 shares during the period. State of New Jersey Common Pension Fund D's holdings in Ternium were worth $2,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Boston Partners increased its position in Ternium by 4.1% during the 1st quarter. Boston Partners now owns 20,994 shares of the basic materials company's stock valued at $654,000 after buying an additional 827 shares in the last quarter. Donald Smith & CO. Inc. increased its position in Ternium by 2.5% during the 1st quarter. Donald Smith & CO. Inc. now owns 3,099,790 shares of the basic materials company's stock valued at $96,589,000 after buying an additional 76,987 shares in the last quarter. XTX Topco Ltd acquired a new position in Ternium during the 1st quarter valued at about $703,000. Cape Ann Asset Management Ltd increased its position in Ternium by 15.0% during the 1st quarter. Cape Ann Asset Management Ltd now owns 871,685 shares of the basic materials company's stock valued at $27,162,000 after buying an additional 113,536 shares in the last quarter. Finally, Cetera Investment Advisers increased its position 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 buying an additional 890 shares in the last quarter. 11.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TX. Morgan Stanley lowered Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 target price on the stock. in a research report on Monday, July 21st. Scotiabank dropped their price target 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. Finally, Wells Fargo & Company upgraded Ternium to a "strong sell" rating in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $32.83.

Ternium Stock Down 1.7%

Shares of TX opened at $31.8410 on Thursday. Ternium S.A. has a 52 week low of $24.00 and a 52 week high of $37.98. The company has a quick ratio of 1.59, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 10.51 and a beta of 1.53. The stock's 50-day moving average price is $31.30 and its 200-day moving average price is $29.99.

Ternium (NYSE:TX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The basic materials company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.62. Ternium had a return on equity of 1.95% and a net margin of 3.66%.The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company's revenue was down 12.6% compared to the same quarter last year. On average, sell-side analysts predict that Ternium S.A. will post 4.37 EPS for the current 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.

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