Ninety One North America Inc. Trims Stake in Ternium S.A. $TX

Ninety One North America Inc. reduced its position in Ternium S.A. (NYSE:TX) by 15.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 785,653 shares of the basic materials company’s stock after selling 144,739 shares during the period. Ternium makes up 1.2% of Ninety One North America Inc.’s portfolio, making the stock its 29th biggest position. Ninety One North America Inc.’s holdings in Ternium were worth $30,004,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TX. Royal Bank of Canada raised its position in Ternium by 31.5% in the 1st quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company’s stock worth $840,000 after purchasing an additional 6,453 shares during the period. Millennium Management LLC increased its position in shares of Ternium by 569.4% during the first quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock worth $3,952,000 after acquiring an additional 107,880 shares during the period. Invesco Ltd. increased its position in shares of Ternium by 58.4% during the second quarter. Invesco Ltd. now owns 22,257 shares of the basic materials company’s stock worth $670,000 after acquiring an additional 8,204 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Ternium during the second quarter worth approximately $214,000. Finally, Militia Capital Partners LP increased its position in shares of Ternium by 16.1% during the second quarter. Militia Capital Partners LP now owns 36,084 shares of the basic materials company’s stock worth $1,086,000 after acquiring an additional 5,000 shares during the period. 11.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TX has been the topic of a number of research reports. Wells Fargo & Company reaffirmed an “underweight” rating and set a $36.00 target price on shares of Ternium in a research report on Wednesday. UBS Group raised their target price on shares of Ternium from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Bank of America raised shares of Ternium from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Monday, April 13th. Zacks Research lowered shares of Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $40.00 target price on shares of Ternium in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.79.

Ternium Stock Performance

Shares of NYSE:TX opened at $42.25 on Friday. The firm has a market cap of $8.47 billion, a PE ratio of 19.56 and a beta of 1.27. The firm’s 50 day simple moving average is $41.14 and its 200-day simple moving average is $39.23. Ternium S.A. has a one year low of $26.75 and a one year high of $45.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.45 and a current ratio of 2.49.

Ternium (NYSE:TX) last issued its earnings results on Saturday, February 14th. The basic materials company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.15). The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Ternium had a return on equity of 3.06% and a net margin of 2.72%.The business’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business posted ($0.42) earnings per share. As a group, equities analysts predict that Ternium S.A. will post 4.37 EPS for the current year.

Ternium Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, May 20th. Investors of record on Thursday, May 14th will be issued a dividend of $0.90 per share. This represents a yield of 413.0%. The ex-dividend date of this dividend is Thursday, May 14th. Ternium’s dividend payout ratio (DPR) is presently 83.33%.

Ternium Company Profile

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.