Envestnet Asset Management Inc. Has $1.80 Million Stock Position in Ternium S.A. (NYSE:TX)

Posted by Defense World Staff on May 21st, 2023

Envestnet Asset Management Inc. reduced its holdings in shares of Ternium S.A. (NYSE:TX – Get Rating) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,039 shares of the basic materials company’s stock after selling 552 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ternium were worth $1,804,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Lazard Asset Management LLC lifted its position in shares of Ternium by 6,399.5% during the first quarter. Lazard Asset Management LLC now owns 1,060,919 shares of the basic materials company’s stock valued at $48,429,000 after purchasing an additional 1,044,596 shares in the last quarter. Oldfield Partners LLP bought a new position in shares of Ternium during the third quarter valued at about $16,117,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Ternium during the fourth quarter valued at about $11,976,000. Helikon Investments Ltd bought a new stake in Ternium in the third quarter worth about $9,008,000. Finally, Renaissance Technologies LLC raised its position in Ternium by 279.8% in the third quarter. Renaissance Technologies LLC now owns 362,700 shares of the basic materials company’s stock worth $9,934,000 after acquiring an additional 267,200 shares during the period. 10.41% of the stock is currently owned by institutional investors and hedge funds.

Ternium Stock Performance

Shares of NYSE:TX opened at $39.75 on Friday. The company has a 50 day moving average of $40.38 and a 200 day moving average of $36.92. Ternium S.A. has a 12 month low of $26.01 and a 12 month high of $45.81. The company has a quick ratio of 2.55, a current ratio of 4.00 and a debt-to-equity ratio of 0.05.

Ternium (NYSE:TX – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $1.91 EPS for the quarter, beating the consensus estimate of $0.98 by $0.93. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Ternium had a net margin of 8.68% and a return on equity of 9.84%. Ternium’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.95 earnings per share. On average, sell-side analysts expect that Ternium S.A. will post 6.87 EPS for the current fiscal year.

Ternium Announces Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, May 15th. Investors of record on Friday, May 5th were paid a dividend of $1.80 per share. The ex-dividend date of this dividend was Thursday, May 4th. This represents a yield of 6.9%. Ternium’s dividend payout ratio is currently 51.72%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup assumed coverage on shares of Ternium in a research report on Wednesday, February 1st. They issued a “buy” rating and a $50.00 price objective on the stock. HSBC lifted their price objective on shares of Ternium from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Bank of America raised shares of Ternium from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $38.00 to $42.00 in a research report on Monday, January 23rd. Itau BBA Securities lowered shares of Ternium from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $40.00 to $49.00 in a research report on Thursday, March 9th. Finally, Morgan Stanley raised shares of Ternium from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $34.00 to $52.00 in a research report on Monday, March 6th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ternium presently has an average rating of “Moderate Buy” and an average price target of $46.43.

Ternium Company Profile

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Ternium SA engages in the production of flat steel. It operates through the Steel and Mining segments. The Steel segment includes the sales of steel products. The Mining segment involves in the sales of mining products, mainly iron ore and pellets. The company was founded in September 1961 and is headquartered in Luxembourg.