Prudential PLC Sells 193,633 Shares of Ternium S.A. (NYSE:TX)

Prudential PLC cut its position in Ternium S.A. (NYSE:TX) by 20.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 776,352 shares of the basic materials company’s stock after selling 193,633 shares during the quarter. Prudential PLC’s holdings in Ternium were worth $29,152,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Ternium by 25.6% in the fourth quarter. Wellington Management Group LLP now owns 248,980 shares of the basic materials company’s stock valued at $10,574,000 after acquiring an additional 50,743 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Ternium in the 4th quarter valued at about $1,698,000. Contrarian Capital Management L.L.C. lifted its stake in Ternium by 8.9% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 1,117,981 shares of the basic materials company’s stock valued at $47,481,000 after purchasing an additional 91,629 shares during the last quarter. GSA Capital Partners LLP bought a new position in Ternium during the first quarter worth about $1,064,000. Finally, Allianz Asset Management GmbH grew its holdings in Ternium by 277.7% during the fourth quarter. Allianz Asset Management GmbH now owns 196,082 shares of the basic materials company’s stock worth $8,328,000 after purchasing an additional 144,171 shares during the period. 11.98% of the stock is currently owned by institutional investors and hedge funds.

Ternium Stock Performance

NYSE:TX opened at $32.13 on Monday. The stock has a 50 day simple moving average of $35.08 and a 200 day simple moving average of $38.91. The stock has a market cap of $6.44 billion, a P/E ratio of 9.53, a PEG ratio of 0.21 and a beta of 1.76. Ternium S.A. has a 1-year low of $31.07 and a 1-year high of $44.44. The company has a current ratio of 2.74, a quick ratio of 1.57 and a debt-to-equity ratio of 0.09.

Ternium (NYSE:TX) last posted its earnings results on Tuesday, July 30th. The basic materials company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($1.36). Ternium had a positive return on equity of 6.08% and a negative net margin of 3.57%. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the business posted $3.19 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Research analysts anticipate that Ternium S.A. will post 7.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com upgraded Ternium from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of Ternium from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ternium has an average rating of “Buy” and an average target price of $52.33.

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.