XTX Topco Ltd Makes New $703,000 Investment in Ternium S.A. (NYSE:TX)

Key Points

• XTX Topco Ltd has purchased 22,561 shares of Ternium S.A., valued at approximately $703,000, as disclosed in a Form 13F filing.
• Despite the acquisition, Ternium's stock has recently seen a decline of 3.9%, with opening shares at $30.71 and an average target price set at $33.40 by analysts.
• In its latest earnings report, Ternium reported an EPS of $1.28, significantly beating the consensus estimate of $0.66, although its quarterly revenue fell 12.6% year-over-year.

XTX Topco Ltd acquired a new position in Ternium S.A. (NYSE:TX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,561 shares of the basic materials company's stock, valued at approximately $703,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cape Ann Asset Management Ltd grew its holdings 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. Woodline Partners LP grew its holdings in shares of Ternium by 28.0% in the fourth quarter. Woodline Partners LP now owns 365,693 shares of the basic materials company's stock valued at $10,634,000 after purchasing an additional 79,935 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Ternium by 10.4% in the fourth quarter. Renaissance Technologies LLC now owns 304,400 shares of the basic materials company's stock valued at $8,852,000 after purchasing an additional 28,700 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Ternium by 15.5% in the fourth quarter. Wellington Management Group LLP now owns 208,827 shares of the basic materials company's stock valued at $6,073,000 after purchasing an additional 28,054 shares in the last quarter. Finally, PointState Capital LP purchased a new position in shares of Ternium in the fourth quarter valued at $4,112,000. 11.98% of the stock is owned by hedge funds and other institutional investors.

Ternium Trading Up 2.0%

Shares of NYSE:TX traded up $0.64 on Friday, hitting $31.90. 80,554 shares of the company's stock were exchanged, compared to its average volume of 231,268. Ternium S.A. has a 12 month low of $24.00 and a 12 month high of $37.98. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 10.53 and a beta of 1.53. The business's 50 day simple moving average is $30.64 and its two-hundred day simple moving average is $29.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 1.59.

Ternium (NYSE:TX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.62. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.19 billion. Ternium had a return on equity of 1.95% and a net margin of 3.66%. The firm's quarterly revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) earnings per share. Analysts anticipate that Ternium S.A. will post 4.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on TX. Morgan Stanley lowered shares of Ternium from an "overweight" rating to an "equal weight" rating and set a $34.00 target price for the company. in a report on Monday, July 21st. Scotiabank lowered their price target on Ternium from $53.00 to $41.00 and set a "sector outperform" rating for the company in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Ternium has an average rating of "Hold" and an average target price of $33.40.

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.