State of New Jersey Common Pension Fund D Boosts Holdings in Ternium S.A. $TX

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 increased its stake in Ternium S.A. (NYSE:TX - Free Report) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 92,528 shares of the basic materials company's stock after acquiring 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 SEC filing.

Several other hedge funds have also modified their holdings of TX. PointState Capital LP acquired a new stake in shares of Ternium in the fourth quarter worth approximately $4,112,000. Cape Ann Asset Management Ltd lifted its position in Ternium by 15.0% during the first 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. Woodline Partners LP lifted its position in Ternium by 28.0% during the fourth quarter. Woodline Partners LP now owns 365,693 shares of the basic materials company's stock valued at $10,634,000 after buying an additional 79,935 shares in the last quarter. Donald Smith & CO. Inc. lifted its position in Ternium by 2.5% during the first 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. Finally, GAMMA Investing LLC lifted its position in Ternium by 4,630.9% during the first quarter. GAMMA Investing LLC now owns 59,609 shares of the basic materials company's stock valued at $1,913,000 after buying an additional 58,349 shares in the last quarter. 11.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TX has been the topic of a number of recent research reports. Morgan Stanley cut shares of Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 price target on the stock. in a research report on Monday, July 21st. Scotiabank reduced their price target on shares of Ternium from $53.00 to $41.00 and set a "sector outperform" rating on the stock in a research report on Thursday, July 17th. Finally, Wells Fargo & Company raised shares of Ternium to a "strong sell" rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Ternium presently has an average rating of "Hold" and an average price target of $32.83.

Ternium Stock Down 1.2%

Shares of TX traded down $0.39 during mid-day trading on Tuesday, reaching $33.13. 161,358 shares of the stock traded hands, compared to its average volume of 245,994. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 10.93 and a beta of 1.53. The stock has a fifty day simple moving average of $31.56 and a 200 day simple moving average of $30.07. Ternium S.A. has a 12-month low of $24.00 and a 12-month 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.

Ternium (NYSE:TX - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.19 billion. Ternium had a net margin of 3.66% and a return on equity of 1.95%. The business's quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) earnings per share. Sell-side analysts expect that Ternium S.A. will post 4.37 EPS 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.