MERIAN GLOBAL INVESTORS UK Ltd Acquires 60,311 Shares of Ternium SA (TX)

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MERIAN GLOBAL INVESTORS UK Ltd grew its holdings in Ternium SA (NYSE:TX) by 21.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 343,415 shares of the basic materials company’s stock after acquiring an additional 60,311 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd owned 0.17% of Ternium worth $10,402,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Advisors Asset Management Inc. boosted its holdings in shares of Ternium by 15.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 42,599 shares of the basic materials company’s stock worth $1,483,000 after buying an additional 5,830 shares during the period. Millennium Management LLC boosted its holdings in shares of Ternium by 247.1% during the 2nd quarter. Millennium Management LLC now owns 580,345 shares of the basic materials company’s stock worth $20,208,000 after buying an additional 413,143 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Ternium during the 2nd quarter worth $408,000. Capital Fund Management S.A. bought a new stake in shares of Ternium during the 2nd quarter worth $306,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Ternium during the 2nd quarter worth $590,000. 17.80% of the stock is owned by institutional investors.

Several research firms recently commented on TX. Zacks Investment Research cut shares of Ternium from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. ValuEngine cut shares of Ternium from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, Bank of America reiterated an “underperform” rating and set a $32.00 target price on shares of Ternium in a research note on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $40.67.

NYSE:TX opened at $30.91 on Friday. The firm has a market cap of $6.31 billion, a P/E ratio of 6.85, a P/E/G ratio of 0.60 and a beta of 1.14. Ternium SA has a one year low of $25.52 and a one year high of $42.43. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 0.26.

Ternium (NYSE:TX) last released its earnings results on Tuesday, July 31st. The basic materials company reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by ($0.13). The company had revenue of $3.13 billion for the quarter. Ternium had a net margin of 9.42% and a return on equity of 17.93%. As a group, analysts forecast that Ternium SA will post 6.69 earnings per share for the current fiscal year.

Ternium Company Profile

Ternium SA, through its subsidiaries, manufactures and processes 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 in two segments, Steel and Mining. The Steel segment offers steel products, including slabs, billets and round bars, hot-rolled coils and sheets, bars and stirrups, wire rods, cold-rolled coils and sheets, tin plates, hot dipped galvanized and electrogalvanized sheets and pre-painted sheets, steel pipes and tubular products, beams, and roll formed products, as well as other products, such as pig iron.

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Institutional Ownership by Quarter for Ternium (NYSE:TX)

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