Cubist Systematic Strategies LLC increased its position in Ternium SA (NYSE:TX) by 420.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,392 shares of the basic materials company’s stock after purchasing an additional 39,894 shares during the period. Cubist Systematic Strategies LLC’s holdings in Ternium were worth $1,528,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its position in Ternium by 22.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 87,154 shares of the basic materials company’s stock valued at $2,277,000 after buying an additional 15,696 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Ternium in the 2nd quarter valued at $678,000. Sei Investments Co. raised its position in Ternium by 443.2% in the 2nd quarter. Sei Investments Co. now owns 14,698 shares of the basic materials company’s stock valued at $413,000 after buying an additional 11,992 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Ternium by 647.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 56,805 shares of the basic materials company’s stock valued at $1,596,000 after buying an additional 49,205 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Ternium by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 29,598 shares of the basic materials company’s stock valued at $831,000 after buying an additional 634 shares during the last quarter. Institutional investors own 19.27% of the company’s stock.
A number of research firms recently commented on TX. Morgan Stanley raised Ternium from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, December 6th. Zacks Investment Research lowered Ternium from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.50.
Ternium (NYSE:TX) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.33. Ternium had a return on equity of 15.49% and a net margin of 9.86%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the firm posted $1.17 EPS. The business’s revenue was up 33.6% compared to the same quarter last year. sell-side analysts predict that Ternium SA will post 3.98 earnings per share for the current year.
Ternium Company Profile
Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.
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