Dalton Investments Inc. Reduces Position in Ternium S.A. (NYSE:TX)

Dalton Investments Inc. reduced its holdings in shares of Ternium S.A. (NYSE:TX) by 23.0% in the second quarter, Holdings Channel.com reports. The fund owned 32,184 shares of the basic materials company’s stock after selling 9,591 shares during the quarter. Ternium comprises about 0.7% of Dalton Investments Inc.’s portfolio, making the stock its 19th largest holding. Dalton Investments Inc.’s holdings in Ternium were worth $1,209,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Donald Smith & CO. Inc. bought a new position in shares of Ternium during the second quarter valued at approximately $50,566,000. Allspring Global Investments Holdings LLC boosted its stake in Ternium by 20,865.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 220,765 shares of the basic materials company’s stock valued at $9,188,000 after acquiring an additional 219,712 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Ternium by 277.7% in the fourth quarter. Allianz Asset Management GmbH now owns 196,082 shares of the basic materials company’s stock worth $8,328,000 after purchasing an additional 144,171 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new stake in shares of Ternium during the 1st quarter valued at $5,426,000. Finally, Contrarian Capital Management L.L.C. boosted its position in shares of Ternium by 8.9% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 1,117,981 shares of the basic materials company’s stock worth $47,481,000 after purchasing an additional 91,629 shares in the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TX. JPMorgan Chase & Co. upped their target price on Ternium from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. StockNews.com lowered shares of Ternium from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.33.

Ternium Stock Down 2.3 %

Shares of TX stock opened at $35.02 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.57 and a current ratio of 2.74. Ternium S.A. has a fifty-two week low of $30.68 and a fifty-two week high of $44.44. The firm has a market capitalization of $7.02 billion, a PE ratio of 10.39, a P/E/G ratio of 0.15 and a beta of 1.76. The stock’s 50-day simple moving average is $34.29 and its 200-day simple moving average is $38.46.

Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, July 30th. The basic materials company reported ($0.11) EPS for the quarter, missing the consensus estimate of $1.25 by ($1.36). Ternium had a negative net margin of 3.57% and a positive return on equity of 6.08%. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the company earned $3.19 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. Equities analysts expect that Ternium S.A. will post 7.01 earnings per share for the current year.

Ternium Company Profile

Ternium SA, together with its subsidiaries, manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally. It operates through three segments: Steel, Mining, and Usiminas. The Steel segment offers slabs, hot and cold rolled products, coated products, roll formed and tubular products, bars, billets, and other products.