Smith Asset Management Group LP purchased a new position in shares of Ternium SA (NYSE:TX) during the second quarter, Holdings Channel reports. The institutional investor purchased 10,405 shares of the company’s stock, valued at approximately $198,000.
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Group LTD acquired a new position in shares of Ternium SA during the first quarter worth about $1,660,000. JPMorgan Chase & Co. boosted its position in shares of Ternium SA by 245.5% in the first quarter. JPMorgan Chase & Co. now owns 112,217 shares of the company’s stock worth $2,018,000 after buying an additional 79,742 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Ternium SA during the first quarter worth about $3,012,000. Geode Capital Management LLC boosted its position in shares of Ternium SA by 79.9% in the first quarter. Geode Capital Management LLC now owns 40,566 shares of the company’s stock worth $729,000 after buying an additional 18,012 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Ternium SA by 510.8% in the first quarter. Wellington Management Group LLP now owns 910,700 shares of the company’s stock worth $16,374,000 after buying an additional 761,600 shares in the last quarter.
Ternium SA (NYSE:TX) traded up 4.92% during midday trading on Wednesday, reaching $19.82. 362,771 shares of the company’s stock traded hands. The company has a market cap of $3.89 billion, a P/E ratio of 26.46 and a beta of 1.59. The stock has a 50-day moving average of $20.44 and a 200 day moving average of $19.66. Ternium SA has a 52-week low of $10.28 and a 52-week high of $23.60.
Ternium SA (NYSE:TX) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.14. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, analysts anticipate that Ternium SA will post $2.53 earnings per share for the current fiscal year.
TX has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Ternium SA from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, July 7th. TheStreet upgraded shares of Ternium SA from a “hold” rating to a “buy” rating in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Ternium SA from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Saturday, August 6th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $21.00 target price on shares of Ternium SA in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Ternium SA presently has an average rating of “Buy” and an average target price of $22.68.
Ternium SA Company Profile
Ternium SA is a steel producer in Latin America. The Company manufactures and processes a range of steel products, including galvanized and electro-galvanized sheets, pre-painted sheets, tinplate, welded pipes, hot-rolled flat products, cold-rolled products, bars and wire rods, as well as slitted and cut-to-length offerings through its service centers.
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