Principal Financial Group Inc. Has $3.02 Million Position in Ternium S.A. (NYSE:TX)

Principal Financial Group Inc. raised its position in Ternium S.A. (NYSE:TX) by 37.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,679 shares of the basic materials company’s stock after purchasing an additional 22,450 shares during the quarter. Principal Financial Group Inc.’s holdings in Ternium were worth $3,015,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Ternium by 72.1% during the 3rd quarter. GAMMA Investing LLC now owns 919 shares of the basic materials company’s stock worth $34,000 after buying an additional 385 shares during the period. Blue Trust Inc. boosted its holdings in Ternium by 3,152.3% in the second 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 during the last quarter. SG Americas Securities LLC acquired a new stake in Ternium during the 1st quarter valued at approximately $107,000. Virtus Investment Advisers Inc. bought a new position in Ternium during the 1st quarter worth approximately $202,000. Finally, Caprock Group LLC acquired a new position in shares of Ternium in the 2nd quarter worth approximately $295,000. 11.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Ternium Trading Up 0.1 %

NYSE TX opened at $33.43 on Friday. The stock has a market capitalization of $6.56 billion, a P/E ratio of 83.58, a P/E/G ratio of 0.24 and a beta of 1.77. The business has a 50 day simple moving average of $35.24 and a 200 day simple moving average of $36.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 1.67. Ternium S.A. has a one year low of $30.68 and a one year high of $44.44.

Ternium (NYSE:TX) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. Ternium had a net margin of 0.42% and a return on equity of 4.70%. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the firm posted $1.38 EPS. The company’s quarterly revenue was down 13.6% on a year-over-year basis. Research analysts expect that Ternium S.A. will post 3.7 earnings per share for the current year.

Ternium Cuts Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be paid a $0.09 dividend. The ex-dividend date is Monday, November 18th. This represents a dividend yield of 8.5%. Ternium’s dividend payout ratio is presently 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.