Pictet Asset Management Ltd. increased its stake in shares of Ternium S.A. (NYSE:TX) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,221,890 shares of the basic materials company’s stock after buying an additional 15,936 shares during the period. Pictet Asset Management Ltd.’s holdings in Ternium were worth $31,794,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. World Asset Management Inc boosted its position in shares of Ternium by 0.3% in the first quarter. World Asset Management Inc now owns 12,437 shares of the basic materials company’s stock valued at $325,000 after buying an additional 41 shares in the last quarter. Comerica Bank boosted its stake in Ternium by 1.3% in the first quarter. Comerica Bank now owns 11,493 shares of the basic materials company’s stock worth $293,000 after buying an additional 149 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Ternium by 0.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 62,583 shares of the basic materials company’s stock worth $1,635,000 after buying an additional 167 shares during the period. Ameriprise Financial Inc. boosted its stake in Ternium by 6.5% in the first quarter. Ameriprise Financial Inc. now owns 10,772 shares of the basic materials company’s stock worth $281,000 after buying an additional 654 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in Ternium by 3.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 20,062 shares of the basic materials company’s stock worth $524,000 after buying an additional 689 shares during the period. Institutional investors own 21.71% of the company’s stock.

Shares of Ternium S.A. (NYSE TX) opened at 30.09 on Thursday. The stock has a 50 day moving average price of $28.88 and a 200-day moving average price of $26.17. The stock has a market capitalization of $5.91 billion, a PE ratio of 6.88 and a beta of 1.07. Ternium S.A. has a 52-week low of $18.29 and a 52-week high of $32.14.

Ternium (NYSE:TX) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.13 by $0.14. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Ternium had a return on equity of 16.61% and a net margin of 11.05%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. On average, equities research analysts anticipate that Ternium S.A. will post $3.40 EPS for the current fiscal year.

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A number of research firms have recently commented on TX. Zacks Investment Research upgraded Ternium from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Saturday, June 17th. BidaskClub upgraded Ternium from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. J P Morgan Chase & Co restated an “overweight” rating and issued a $35.00 price objective (up from $33.00) on shares of Ternium in a research report on Friday, July 21st. Finally, Credit Suisse Group restated a “hold” rating and issued a $24.00 price objective on shares of Ternium in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $30.50.

Ternium Company Profile

Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.

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Institutional Ownership by Quarter for Ternium (NYSE:TX)

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