Ternium S.A. (NYSE:TX) Stock Holdings Lowered by Victory Capital Management Inc.

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. decreased its stake in shares of Ternium S.A. (NYSE:TX - Free Report) by 93.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of TX. Bank of America Corp DE grew its holdings in shares of Ternium by 4.4% during the fourth quarter. Bank of America Corp DE now owns 80,912 shares of the basic materials company's stock valued at $2,353,000 after purchasing an additional 3,398 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 during the last quarter. MQS Management LLC bought a new position in Ternium in the 1st quarter worth about $441,000. Silvercrest Asset Management Group LLC bought a new position in Ternium in the 4th quarter worth about $856,000. Finally, Principal Financial Group Inc. grew its position in Ternium by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 95,486 shares of the basic materials company's stock worth $2,975,000 after purchasing an additional 4,348 shares during the last quarter. Institutional investors own 11.98% of the company's stock.

Ternium Price Performance

Shares of NYSE:TX traded down $0.54 during trading on Friday, reaching $32.04. The company had a trading volume of 212,041 shares, compared to its average volume of 229,600. The firm's fifty day moving average is $30.41 and its 200 day moving average is $29.76. The firm has a market capitalization of $6.42 billion, a PE ratio of 10.57 and a beta of 1.53. Ternium S.A. has a twelve month low of $24.00 and a twelve month high of $37.98. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.76 and a current ratio of 2.68.

Ternium (NYSE:TX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.62. The company had revenue of $3.95 billion during 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 revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.11) EPS. On average, equities analysts forecast that Ternium S.A. will post 4.37 EPS for the current year.

Analyst Ratings Changes

TX has been the subject of several recent analyst reports. Morgan Stanley cut shares of Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 target price for the company. in a research report on Monday, July 21st. Scotiabank decreased their target price on shares of Ternium from $53.00 to $41.00 and set a "sector outperform" rating for the company in a research report on Thursday, July 17th. Finally, Bank of America restated an "underperform" rating and issued a $25.00 target price on shares of Ternium in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.