Oldfield Partners LLP Reduces Position in Ternium S.A. $TX

Oldfield Partners LLP trimmed its position in Ternium S.A. (NYSE:TX) by 58.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,495 shares of the basic materials company’s stock after selling 33,513 shares during the period. Ternium accounts for approximately 0.3% of Oldfield Partners LLP’s holdings, making the stock its 14th largest position. Oldfield Partners LLP’s holdings in Ternium were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC grew its stake in shares of Ternium by 8.5% during the third quarter. Lazard Asset Management LLC now owns 5,813,570 shares of the basic materials company’s stock worth $201,905,000 after purchasing an additional 454,798 shares in the last quarter. Donald Smith & CO. Inc. raised its stake in Ternium by 10.1% in the second quarter. Donald Smith & CO. Inc. now owns 3,412,385 shares of the basic materials company’s stock valued at $102,713,000 after buying an additional 312,595 shares in the last quarter. Schroder Investment Management Group raised its stake in Ternium by 11.0% in the second quarter. Schroder Investment Management Group now owns 2,177,525 shares of the basic materials company’s stock valued at $65,544,000 after buying an additional 216,301 shares in the last quarter. Millennium Management LLC lifted its holdings in Ternium by 569.4% during the 1st quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock worth $3,952,000 after buying an additional 107,880 shares during the last quarter. Finally, Oaktree Capital Management LP lifted its holdings in Ternium by 13.2% during the 2nd quarter. Oaktree Capital Management LP now owns 919,709 shares of the basic materials company’s stock worth $27,683,000 after buying an additional 107,100 shares during the last quarter. 11.98% of the stock is owned by hedge funds and other institutional investors.

Ternium Stock Performance

NYSE TX opened at $38.29 on Tuesday. The company has a fifty day moving average of $41.97 and a two-hundred day moving average of $38.49. The company has a market capitalization of $7.68 billion, a PE ratio of 17.73 and a beta of 1.32. Ternium S.A. has a 1 year low of $24.00 and a 1 year high of $45.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.49 and a quick ratio of 1.45.

Ternium (NYSE:TX) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.15). Ternium had a return on equity of 3.06% and a net margin of 2.72%.The firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter last year, the firm posted ($0.42) EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, analysts expect that Ternium S.A. will post 4.37 earnings per share for the current year.

Ternium Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, May 14th will be paid a dividend of $0.90 per share. This represents a yield of 413.0%. The ex-dividend date is Thursday, May 14th. Ternium’s dividend payout ratio (DPR) is currently 83.33%.

Wall Street Analyst Weigh In

TX has been the topic of a number of recent analyst reports. UBS Group increased their price objective on Ternium from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, December 15th. Zacks Research cut Ternium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings raised Ternium from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Finally, Wells Fargo & Company dropped their price target on shares of Ternium from $34.00 to $33.00 and set an “underweight” rating on the stock in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.94.

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.