Verition Fund Management LLC Takes Position in Ternium S.A. (NYSE:TX)

Verition Fund Management LLC purchased a new position in Ternium S.A. (NYSE:TX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,620 shares of the basic materials company’s stock, valued at approximately $244,000.

Several other hedge funds have also recently added to or reduced their stakes in TX. Blue Trust Inc. raised its holdings in shares of Ternium by 3,152.3% in the 2nd quarter. Blue Trust Inc. now owns 1,431 shares of the basic materials company’s stock worth $60,000 after buying an additional 1,387 shares in the last quarter. Principal Financial Group Inc. grew its position in Ternium by 4.3% in the second quarter. Principal Financial Group Inc. now owns 59,229 shares of the basic materials company’s stock valued at $2,224,000 after acquiring an additional 2,437 shares during the period. Caprock Group LLC acquired a new position in Ternium during the second quarter worth $295,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Ternium by 8.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 82,335 shares of the basic materials company’s stock valued at $3,092,000 after acquiring an additional 6,158 shares during the period. Finally, Donald Smith & CO. Inc. bought a new stake in shares of Ternium in the 2nd quarter worth about $50,566,000. Institutional investors and hedge funds own 11.98% of the company’s stock.

Ternium Trading Down 3.2 %

Shares of TX opened at $30.71 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.67 and a current ratio of 2.92. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 76.78, a PEG ratio of 0.47 and a beta of 1.74. The stock has a fifty day moving average price of $34.14 and a two-hundred day moving average price of $35.33. Ternium S.A. has a 52-week low of $30.58 and a 52-week high of $44.44.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.45 billion. Ternium had a return on equity of 4.70% and a net margin of 0.42%. The firm’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.38 earnings per share. Analysts predict that Ternium S.A. will post 3.7 EPS for the current fiscal year.

Ternium Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were issued a $0.09 dividend. This represents a dividend yield of 8.5%. The ex-dividend date of this dividend was Monday, November 18th. Ternium’s dividend payout ratio is currently 450.01%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Ternium from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Ternium 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.