Point72 Asset Management L.P. Decreases Position in Ternium S.A. (NYSE:TX)

Point72 Asset Management L.P. reduced its stake in Ternium S.A. (NYSE:TX) by 58.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,700 shares of the basic materials company’s stock after selling 6,500 shares during the period. Point72 Asset Management L.P.’s holdings in Ternium were worth $176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position 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 valued at $60,000 after buying an additional 1,387 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Ternium during the first quarter worth about $107,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Ternium during the first quarter worth about $202,000. Privium Fund Management UK Ltd purchased a new stake in shares of Ternium in the 1st quarter valued at about $306,000. Finally, Caprock Group LLC acquired a new stake in shares of Ternium in the 2nd quarter valued at about $295,000. Institutional investors and hedge funds own 11.98% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Ternium from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Ternium currently has an average rating of “Buy” and an average price target of $52.33.

Ternium Stock Performance

Shares of TX stock opened at $36.86 on Friday. The stock’s 50-day moving average price is $34.37 and its 200 day moving average price is $38.25. 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 stock has a market capitalization of $7.39 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 0.19 and a beta of 1.77. Ternium S.A. has a 52-week low of $30.68 and a 52-week high of $44.44.

Ternium (NYSE:TX) last released its earnings results on Tuesday, July 30th. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($1.36). Ternium had a negative net margin of 3.57% and a positive return on equity of 6.08%. The company 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 posted $3.19 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts forecast that Ternium S.A. will post 5.97 EPS for the current year.

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.