Acadian Asset Management LLC Trims Position in Ternium S.A. $TX

Acadian Asset Management LLC decreased its holdings in shares of Ternium S.A. (NYSE:TX) by 22.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,238,084 shares of the basic materials company’s stock after selling 356,645 shares during the period. Acadian Asset Management LLC owned approximately 0.62% of Ternium worth $38,568,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TX. Bank of America Corp DE boosted its stake in shares of Ternium by 4.4% during the fourth quarter. Bank of America Corp DE now owns 80,912 shares of the basic materials company’s stock worth $2,353,000 after buying an additional 3,398 shares during the period. Millennium Management LLC boosted its stake in shares of Ternium by 70.8% during the fourth quarter. Millennium Management LLC now owns 18,947 shares of the basic materials company’s stock worth $551,000 after buying an additional 7,853 shares during the period. PointState Capital LP acquired a new stake in shares of Ternium during the fourth quarter worth about $4,112,000. Silvercrest Asset Management Group LLC acquired a new stake in shares of Ternium during the fourth quarter worth about $856,000. Finally, Woodline Partners LP boosted its stake in shares of Ternium by 28.0% during the fourth quarter. Woodline Partners LP now owns 365,693 shares of the basic materials company’s stock worth $10,634,000 after buying an additional 79,935 shares during the period. Institutional investors and hedge funds own 11.98% of the company’s stock.

Ternium Stock Performance

NYSE TX opened at $34.15 on Thursday. The company has a current ratio of 2.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $32.29 and its two-hundred day moving average is $30.34. 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 $6.85 billion, a price-to-earnings ratio of 11.27 and a beta of 1.47.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Ternium from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Wells Fargo & Company upgraded shares of Ternium to a “strong sell” rating in a research note on Thursday, August 14th. Scotiabank cut their price target on shares of Ternium from $41.00 to $40.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 3rd. Finally, Morgan Stanley lowered Ternium from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.67.

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.