Victory Capital Management Inc. Sells 24,231 Shares of Ternium S.A. (NYSE:TX)

Victory Capital Management Inc. reduced its holdings in Ternium S.A. (NYSE:TX) by 3.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 663,201 shares of the basic materials company’s stock after selling 24,231 shares during the quarter. Victory Capital Management Inc. owned approximately 0.34% of Ternium worth $19,286,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TX. Principal Financial Group Inc. increased its holdings in Ternium by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 91,138 shares of the basic materials company’s stock valued at $2,650,000 after purchasing an additional 9,459 shares during the period. Ninety One UK Ltd grew its position in shares of Ternium by 2.9% in the 4th quarter. Ninety One UK Ltd now owns 2,417,909 shares of the basic materials company’s stock valued at $70,313,000 after buying an additional 68,366 shares during the last quarter. State Street Corp increased its stake in shares of Ternium by 422.1% in the third quarter. State Street Corp now owns 174,572 shares of the basic materials company’s stock valued at $6,443,000 after buying an additional 141,134 shares during the period. Atria Wealth Solutions Inc. bought a new position in shares of Ternium during the fourth quarter worth about $204,000. Finally, Verition Fund Management LLC acquired a new position in shares of Ternium in the third quarter worth approximately $244,000. Institutional investors own 11.98% of the company’s stock.

Ternium Stock Up 0.9 %

Shares of NYSE:TX opened at $31.84 on Wednesday. Ternium S.A. has a 1 year low of $28.00 and a 1 year high of $44.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.88 and a quick ratio of 1.67. The business’s 50-day moving average is $29.66 and its 200-day moving average is $32.22. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -113.70, a P/E/G ratio of 0.38 and a beta of 1.76.

Ternium (NYSE:TX) last issued its quarterly earnings results on Tuesday, February 18th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($1.39). The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $4.18 billion. Ternium had a negative net margin of 0.31% and a positive return on equity of 1.82%. Equities research analysts predict that Ternium S.A. will post 4.37 earnings per share for the current year.

Ternium Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, May 9th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Ternium’s previous semi-annual dividend of $0.09. This represents a yield of 10.3%. Ternium’s dividend payout ratio is currently -1,285.71%.

Wall Street Analyst Weigh In

TX has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Ternium from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reduced their price objective on shares of Ternium from $45.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th.

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.