Renaissance Technologies LLC Has $9.71 Million Position in Ternium S.A. (NYSE:TX)

Renaissance Technologies LLC increased its position in shares of Ternium S.A. (NYSE:TX) by 43.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 258,600 shares of the basic materials company’s stock after buying an additional 77,800 shares during the quarter. Renaissance Technologies LLC owned 0.13% of Ternium worth $9,710,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Ternium by 3,152.3% during the 2nd quarter. Blue Trust Inc. now owns 1,431 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 1,387 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Ternium by 19.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,759 shares of the basic materials company’s stock worth $75,000 after buying an additional 287 shares in the last quarter. SG Americas Securities LLC bought a new stake in Ternium in the 1st quarter valued at $107,000. Virtus Investment Advisers Inc. acquired a new position in shares of Ternium in the 1st quarter valued at $202,000. Finally, Caprock Group LLC bought a new position in shares of Ternium during the 2nd quarter worth about $295,000. 11.98% of the stock is owned by institutional investors and hedge funds.

Ternium Trading Up 2.1 %

Shares of TX stock opened at $35.75 on Tuesday. The company has a market capitalization of $7.17 billion, a P/E ratio of 10.61, a P/E/G ratio of 0.15 and a beta of 1.76. Ternium S.A. has a 12-month low of $30.68 and a 12-month high of $44.44. 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 firm has a 50-day moving average price of $34.25 and a 200 day moving average price of $38.43.

Ternium (NYSE:TX) last announced its earnings results on Tuesday, July 30th. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of $1.25 by ($1.36). Ternium had a positive return on equity of 6.08% and a negative net margin of 3.57%. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. Research analysts forecast that Ternium S.A. will post 7.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TX shares. StockNews.com cut shares of Ternium from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective on Ternium from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.33.

Ternium Company Profile

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.