Victory Capital Management Inc. Sells 617,617 Shares of Ternium S.A. (NYSE:TX)

Key Points

• Victory Capital Management Inc. dramatically reduced its holdings in Ternium S.A. by 93.1% in the first quarter, leaving it with only 45,584 shares valued at approximately $1.42 million after selling 617,617 shares.
• Ternium reported $1.28 EPS for the last quarter, exceeding estimates but experiencing a 12.6% decline in revenue compared to the previous year.
• Equities research analysts have mixed views on Ternium, with a consensus rating of "Hold" and a target price of $33.40, indicating uncertainty in its market performance.

Victory Capital Management Inc. lessened its stake in Ternium S.A. (NYSE:TX - Free Report) by 93.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,584 shares of the basic materials company's stock after selling 617,617 shares during the period. Victory Capital Management Inc.'s holdings in Ternium were worth $1,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in Ternium by 500.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company's stock valued at $35,000 after buying an additional 1,000 shares in the last quarter. Headlands Technologies LLC lifted its stake 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 buying an additional 1,200 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 buying an additional 653 shares in the last quarter. Aquatic Capital Management LLC lifted its stake in Ternium by 28.4% during the fourth 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 purchased a new stake in Ternium during the fourth quarter valued at about $215,000. Institutional investors own 11.98% of the company's stock.

Wall Street Analyst Weigh In

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

Ternium Stock Performance

Shares of Ternium stock traded up $1.17 during midday trading on Wednesday, hitting $32.74. The company had a trading volume of 594,240 shares, compared to its average volume of 189,692. The business's 50 day simple moving average is $30.22 and its two-hundred day simple moving average is $29.71. The stock has a market cap of $6.56 billion, a PE ratio of 10.81 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 1-year low of $24.00 and a 1-year high of $37.98.

Ternium (NYSE:TX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.62. Ternium had a net margin of 3.66% and a return on equity of 1.96%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter last year, the company posted ($0.11) earnings per share. Ternium's quarterly revenue was down 12.6% on a year-over-year basis. As a group, equities analysts predict 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.