Ternium S.A. (TX) Shares Sold by Renaissance Technologies LLC
Renaissance Technologies LLC reduced its stake in shares of Ternium S.A. (NYSE:TX) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 958,800 shares of the basic materials company’s stock after selling 78,200 shares during the period. Renaissance Technologies LLC owned approximately 0.49% of Ternium worth $26,933,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Comerica Bank boosted its position in shares of Ternium by 1.3% during the 1st quarter. Comerica Bank now owns 11,493 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 149 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Ternium by 0.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 62,583 shares of the basic materials company’s stock worth $1,635,000 after buying an additional 167 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Ternium by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 29,598 shares of the basic materials company’s stock worth $831,000 after buying an additional 634 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Ternium by 6.5% in the 1st quarter. Ameriprise Financial Inc. now owns 10,772 shares of the basic materials company’s stock worth $281,000 after buying an additional 654 shares in the last quarter. Finally, KCG Holdings Inc. boosted its position in shares of Ternium by 15.4% in the 1st quarter. KCG Holdings Inc. now owns 13,857 shares of the basic materials company’s stock worth $362,000 after buying an additional 1,846 shares in the last quarter. Institutional investors own 19.82% of the company’s stock.
Several equities research analysts recently commented on TX shares. Zacks Investment Research upgraded shares of Ternium from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday, July 5th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $35.00 price objective (up from $33.00) on shares of Ternium in a research report on Friday, July 21st. BidaskClub upgraded shares of Ternium from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $24.00 price objective on shares of Ternium in a research report on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $30.50.
Shares of Ternium S.A. (NYSE TX) opened at 30.85 on Friday. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 7.06 and a beta of 1.08. Ternium S.A. has a 52-week low of $19.08 and a 52-week high of $32.83. The company has a 50 day moving average of $30.96 and a 200 day moving average of $27.90.
Ternium (NYSE:TX) last released its earnings results on Tuesday, August 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.13 billion. Ternium had a return on equity of 16.61% and a net margin of 11.05%. Ternium’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. Analysts predict that Ternium S.A. will post $4.06 EPS for the current fiscal year.
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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