Van ECK Associates Corp Has $3.33 Million Stake in Ternium S.A. (NYSE:TX)

Van ECK Associates Corp raised its position in shares of Ternium S.A. (NYSE:TX) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,599 shares of the basic materials company’s stock after purchasing an additional 7,156 shares during the quarter. Van ECK Associates Corp owned 0.06% of Ternium worth $3,333,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TX. R Squared Ltd acquired a new stake in shares of Ternium during the fourth quarter worth approximately $88,000. Blue Trust Inc. boosted its stake in shares of Ternium by 216.9% during the 3rd quarter. Blue Trust Inc. now owns 4,535 shares of the basic materials company’s stock valued at $170,000 after buying an additional 3,104 shares during the period. Quantbot Technologies LP purchased a new position in shares of Ternium during the 3rd quarter valued at $242,000. Verition Fund Management LLC acquired a new position in shares of Ternium in the third quarter worth $244,000. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Ternium by 155.0% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,714 shares of the basic materials company’s stock worth $728,000 after acquiring an additional 11,983 shares in the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TX. The Goldman Sachs Group lowered their target price on Ternium from $45.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. StockNews.com cut shares of Ternium from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Ternium Stock Down 4.1 %

TX opened at $30.10 on Thursday. The firm has a market cap of $5.91 billion, a P/E ratio of 75.25, a price-to-earnings-growth ratio of 0.39 and a beta of 1.76. 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 business has a 50 day moving average price of $29.53 and a 200 day moving average price of $32.64. Ternium S.A. has a twelve month low of $28.00 and a twelve month high of $44.44.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($1.39). The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $4.18 billion. Ternium had a net margin of 0.42% and a return on equity of 4.70%. Research analysts forecast that Ternium S.A. will post 3.58 EPS for the current year.

Ternium Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This represents a yield of 10.3%. This is a boost from Ternium’s previous semi-annual dividend of $0.09. The ex-dividend date is Friday, May 9th. Ternium’s dividend payout ratio is 450.01%.

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.