Bank of America Corp DE increased its stake in Ternium S.A. (NYSE:TX – Get Rating) by 12.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 709,171 shares of the basic materials company's stock after acquiring an additional 75,872 shares during the period. Bank of America Corp DE owned approximately 0.35% of Ternium worth $32,373,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TX. Lazard Asset Management LLC lifted its stake in Ternium by 6,399.5% in the first quarter. Lazard Asset Management LLC now owns 1,060,919 shares of the basic materials company's stock worth $48,429,000 after purchasing an additional 1,044,596 shares during the last quarter. Cape Ann Asset Management Ltd lifted its stake in Ternium by 2.1% in the first quarter. Cape Ann Asset Management Ltd now owns 814,085 shares of the basic materials company's stock worth $37,163,000 after purchasing an additional 16,500 shares during the last quarter. Oldfield Partners LLP bought a new stake in Ternium in the first quarter worth about $39,208,000. Sagil Capital LLP lifted its stake in Ternium by 9.8% in the first quarter. Sagil Capital LLP now owns 348,812 shares of the basic materials company's stock worth $15,923,000 after purchasing an additional 31,068 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Ternium by 33.7% in the first quarter. Van ECK Associates Corp now owns 162,024 shares of the basic materials company's stock worth $7,396,000 after purchasing an additional 40,835 shares during the last quarter. Hedge funds and other institutional investors own 11.23% of the company's stock.
Get Ternium alerts:Analyst Ratings Changes
Several brokerages have issued reports on TX. The Goldman Sachs Group decreased their price objective on shares of Ternium from $60.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, September 6th. StockNews.com downgraded shares of Ternium from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 3rd. Morgan Stanley decreased their price target 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. Finally, Bank of America downgraded shares of Ternium from a "buy" rating to a "neutral" rating and decreased their price target for the company from $53.00 to $40.00 in a research note on Friday, August 26th. Three investment 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.00.
Ternium Price Performance
NYSE TX opened at $27.39 on Friday. The firm's fifty day simple moving average is $31.66 and its two-hundred day simple moving average is $37.93. The company has a current ratio of 3.50, a quick ratio of 1.74 and a debt-to-equity ratio of 0.05. Ternium S.A. has a 12-month low of $26.50 and a 12-month high of $50.36. The firm has a market capitalization of $5.49 billion, a P/E ratio of 1.43 and a beta of 1.52.Ternium (NYSE:TX – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The basic materials company reported $4.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.41. The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.57 billion. Ternium had a net margin of 21.37% and a return on equity of 29.94%. Analysts forecast that Ternium S.A. will post 11.57 EPS for the current fiscal year.
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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