Oldfield Partners LLP Has $20.58 Million Stock Holdings in Ternium S.A. (NYSE:TX)

Oldfield Partners LLP lowered its holdings in Ternium S.A. (NYSE:TX) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,036 shares of the basic materials company’s stock after selling 39,200 shares during the period. Ternium comprises about 3.2% of Oldfield Partners LLP’s portfolio, making the stock its 8th largest holding. Oldfield Partners LLP owned 0.26% of Ternium worth $20,580,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TX. Citigroup Inc. bought a new position in shares of Ternium in the 1st quarter valued at about $85,000. Sei Investments Co. grew its position in shares of Ternium by 6.0% in the 1st quarter. Sei Investments Co. now owns 150,775 shares of the basic materials company’s stock valued at $6,883,000 after acquiring an additional 8,595 shares during the period. XTX Topco Ltd bought a new position in shares of Ternium in the 1st quarter valued at about $201,000. Employees Retirement System of Texas grew its position in shares of Ternium by 12.4% in the 1st quarter. Employees Retirement System of Texas now owns 61,459 shares of the basic materials company’s stock valued at $2,806,000 after acquiring an additional 6,781 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of Ternium by 6,399.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,060,919 shares of the basic materials company’s stock valued at $48,429,000 after acquiring an additional 1,044,596 shares during the period. Institutional investors own 12.07% of the company’s stock.

Wall Street Analysts Forecast Growth

TX has been the subject of a number of analyst reports. Bank of America downgraded shares of Ternium from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $56.00 to $47.00 in a research report on Monday, June 12th. JPMorgan Chase & Co. lifted their price objective on shares of Ternium from $51.50 to $53.50 and gave the stock an “overweight” rating in a research note on Monday, August 21st. Finally, StockNews.com began coverage on shares of Ternium in a research report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.36.

Ternium Stock Performance

NYSE:TX traded down $0.19 during mid-day trading on Tuesday, reaching $40.02. The company’s stock had a trading volume of 23,471 shares, compared to its average volume of 238,358. Ternium S.A. has a 12-month low of $26.01 and a 12-month high of $45.81. The firm’s fifty day moving average price is $41.76 and its two-hundred day moving average price is $40.94. The company has a current ratio of 3.99, a quick ratio of 2.29 and a debt-to-equity ratio of 0.05. The stock has a market cap of $7.86 billion, a P/E ratio of 6.58 and a beta of 1.59.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $1.23. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $4.11 billion. Ternium had a return on equity of 8.51% and a net margin of 7.87%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.07 EPS. On average, equities analysts forecast that Ternium S.A. will post 7.54 EPS for the current fiscal year.

About Ternium

Ternium SA, together with its subsidiaries, manufactures, processes, and sells various steel products in Mexico, Argentina, Paraguay, Chile, Bolivia, Uruguay, Brazil, the United States, Colombia, Guatemala, Costa Rica, Honduras, El Salvador, and Nicaragua. It operates through two segments, Steel and Mining.