Pictet Asset Management Ltd. decreased its holdings in Ternium S.A. (NYSE:TX) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,167,014 shares of the basic materials company’s stock after selling 54,876 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.59% of Ternium worth $36,096,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Advisor Group Inc. raised its position in shares of Ternium by 141.1% during the second quarter. Advisor Group Inc. now owns 4,067 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 2,380 shares during the last quarter. Cypress Capital Management LLC WY raised its position in shares of Ternium by 357.3% during the second quarter. Cypress Capital Management LLC WY now owns 5,030 shares of the basic materials company’s stock worth $141,000 after acquiring an additional 3,930 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of Ternium during the second quarter worth $153,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ternium during the second quarter worth $204,000. Finally, Atria Investments LLC acquired a new stake in shares of Ternium during the second quarter worth $206,000. Institutional investors own 19.14% of the company’s stock.

Ternium (NYSE:TX) last posted its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.33. Ternium had a return on equity of 15.73% and a net margin of 9.86%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company posted $1.17 EPS. The business’s quarterly revenue was up 33.6% on a year-over-year basis.

A number of equities research analysts recently commented on the company. BidaskClub cut Ternium from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research cut Ternium from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Credit Suisse Group reaffirmed a “hold” rating and set a $24.00 price objective on shares of Ternium in a research note on Thursday, August 3rd. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $35.00 price objective (up from $33.00) on shares of Ternium in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.50.

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About Ternium

Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.

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Institutional Ownership by Quarter for Ternium (NYSE:TX)

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