Van ECK Associates Corp Trims Holdings in Ternium S.A. (NYSE:TX)

Van ECK Associates Corp lessened its holdings in shares of Ternium S.A. (NYSE:TX) by 8.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,408 shares of the basic materials company’s stock after selling 10,447 shares during the period. Van ECK Associates Corp owned about 0.05% of Ternium worth $4,108,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management purchased a new position in Ternium during the 1st quarter valued at about $44,000. Blue Trust Inc. boosted its position in Ternium by 3,152.3% during the 2nd quarter. Blue Trust Inc. now owns 1,431 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 1,387 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Ternium by 19.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,759 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 287 shares in the last quarter. SG Americas Securities LLC bought a new stake in Ternium during the 1st quarter valued at approximately $107,000. Finally, Virtus Investment Advisers Inc. bought a new stake in Ternium during the 1st quarter valued at approximately $202,000. Hedge funds and other institutional investors own 11.98% of the company’s stock.

Analysts Set New Price Targets

TX has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on Ternium from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. StockNews.com raised Ternium from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $52.33.

Ternium Stock Performance

Shares of TX opened at $32.36 on Thursday. The company has a quick ratio of 1.57, a current ratio of 2.74 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average price is $35.28 and its 200-day moving average price is $38.99. Ternium S.A. has a 52 week low of $31.07 and a 52 week high of $44.44. The stock has a market cap of $6.49 billion, a P/E ratio of 9.60, a P/E/G ratio of 0.22 and a beta of 1.76.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, July 30th. The basic materials company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($1.36). The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.57 billion. Ternium had a positive return on equity of 6.08% and a negative net margin of 3.57%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.19 earnings per share. Equities research analysts anticipate that Ternium S.A. will post 7.21 earnings per share for the current fiscal year.

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.