Diversified Trust Co lowered its holdings in Ternium S.A. (NYSE:TX – Get Rating) by 11.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,511 shares of the basic materials company's stock after selling 8,020 shares during the quarter. Diversified Trust Co's holdings in Ternium were worth $2,184,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lazard Asset Management LLC lifted its holdings in Ternium by 6,399.5% during the first quarter. Lazard Asset Management LLC now owns 1,060,919 shares of the basic materials company's stock valued at $48,429,000 after purchasing an additional 1,044,596 shares in the last quarter. Oldfield Partners LLP acquired a new position in Ternium during the first quarter worth about $39,208,000. JPMorgan Chase & Co. grew its stake in Ternium by 400.9% during the 4th quarter. JPMorgan Chase & Co. now owns 519,045 shares of the basic materials company's stock valued at $22,589,000 after acquiring an additional 415,425 shares in the last quarter. Schroder Investment Management Group grew its stake in Ternium by 5.8% during the 4th quarter. Schroder Investment Management Group now owns 2,075,788 shares of the basic materials company's stock valued at $9,033,000 after acquiring an additional 114,543 shares in the last quarter. Finally, Moneda USA Inc. purchased a new stake in Ternium during the 1st quarter valued at about $3,543,000. Institutional investors and hedge funds own 11.23% of the company's stock.
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Wall Street Analyst Weigh In
Several brokerages recently issued reports on TX. Morgan Stanley dropped their price objective on shares of Ternium from $48.00 to $39.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 6th. StockNews.com lowered shares of Ternium from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 3rd. The Goldman Sachs Group decreased their price objective on shares of Ternium from $60.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, September 6th. Finally, Bank of America downgraded shares of Ternium from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $53.00 to $40.00 in a research report on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $47.00.
Ternium Price Performance
TX stock traded up $0.80 during trading on Monday, hitting $29.06. The company had a trading volume of 2,650 shares, compared to its average volume of 569,802. Ternium S.A. has a fifty-two week low of $28.00 and a fifty-two week high of $50.36. The company has a current ratio of 3.50, a quick ratio of 1.74 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 1.47 and a beta of 1.52. The business has a 50 day moving average of $32.62 and a 200 day moving average of $38.75.
Ternium Company Profile
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Ternium SA manufactures, processes, and sells various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates through two segments, Steel and Mining. The Steel segment offers slabs, billets and round bars, hot rolled flat products, merchant bars, reinforcing bars, stirrups and rods, tin plate and galvanized products, tubes, beams, insulated panels, roofing and cladding, roof tiles, steel decks, pre-engineered metal building systems, and pig iron products; and sells energy.
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