Wellington Management Group LLP Takes $5.70 Million Position in Ternium S.A. $TX

Wellington Management Group LLP acquired a new stake in Ternium S.A. (NYSE:TX) in the second quarter, HoldingsChannel reports. The firm acquired 133,581 shares of the basic materials company’s stock, valued at approximately $5,704,000.

Several other hedge funds have also added to or reduced their stakes in TX. EverSource Wealth Advisors LLC grew its holdings in Ternium by 49.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 704 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 232 shares during the last quarter. Parallel Advisors LLC raised its stake 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 valued at $32,000 after acquiring an additional 405 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Ternium during the fourth quarter valued at $36,000. Advisory Services Network LLC acquired a new position in shares of Ternium during the third quarter worth $38,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Ternium by 142.1% during the third 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 during the period. 11.98% of the stock is currently owned by institutional investors and hedge funds.

Ternium Price Performance

Shares of NYSE TX opened at $58.15 on Thursday. Ternium S.A. has a twelve month low of $33.01 and a twelve month high of $58.73. The firm has a fifty day simple moving average of $50.67 and a 200 day simple moving average of $46.06. The company has a market capitalization of $11.66 billion, a PE ratio of 16.34, a P/E/G ratio of 0.18 and a beta of 1.25. The company has a quick ratio of 1.43, a current ratio of 2.58 and a debt-to-equity ratio of 0.14.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TX. JPMorgan Chase & Co. increased their price objective on Ternium from $60.50 to $67.50 and gave the company an “overweight” rating in a report on Friday, September 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $57.00 target price on shares of Ternium in a report on Friday, May 22nd. Zacks Research lowered Ternium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. HSBC reissued a “hold” rating and issued a $55.00 price target (up from $53.00) on shares of Ternium in a research note on Friday, August 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ternium in a research report on Monday, August 17th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Ternium presently has a consensus 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.