Empirical Finance LLC Cuts Position in Ternium S.A. $TX

Empirical Finance LLC trimmed its stake in Ternium S.A. (NYSE:TX) by 43.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 90,741 shares of the basic materials company’s stock after selling 70,430 shares during the quarter. Empirical Finance LLC’s holdings in Ternium were worth $3,875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in Ternium by 49.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 232 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Ternium by 101.2% during the first quarter. Parallel Advisors LLC now owns 805 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 405 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Ternium during the 4th quarter valued at $36,000. Advisory Services Network LLC purchased a new stake in shares of Ternium during the 3rd quarter valued at $38,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Ternium by 142.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,254 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 736 shares in the last quarter. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

Ternium Trading Up 0.1%

Shares of NYSE:TX traded up $0.08 during midday trading on Tuesday, reaching $58.08. 377,676 shares of the company’s stock were exchanged, compared to its average volume of 402,562. The firm’s 50 day simple moving average is $50.03 and its two-hundred day simple moving average is $45.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.43. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 0.18 and a beta of 1.25. Ternium S.A. has a fifty-two week low of $33.01 and a fifty-two week high of $58.73.

Ternium (NYSE:TX) last posted its earnings results on Tuesday, June 30th. The basic materials company reported $1.80 EPS for the quarter. The company had revenue of $4.34 billion for the quarter. Ternium had a net margin of 4.37% and a return on equity of 4.26%. As a group, sell-side analysts forecast that Ternium S.A. will post 6.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on TX. Wall Street Zen upgraded Ternium from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Zacks Research downgraded shares of Ternium from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Wells Fargo & Company upgraded Ternium from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $43.00 to $45.00 in a research report on Thursday, July 9th. UBS Group raised their target price on shares of Ternium from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Finally, HSBC reiterated a “hold” rating and issued a $55.00 target price (up from $53.00) on shares of Ternium in a report on Friday, August 21st. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

About Ternium

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.