Bank of America Corp DE Raises Stock Holdings in Ternium S.A. (NYSE:TX)

Bank of America Corp DE grew its holdings in shares of Ternium S.A. (NYSE:TX) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,912 shares of the basic materials company’s stock after buying an additional 3,398 shares during the quarter. Bank of America Corp DE’s holdings in Ternium were worth $2,353,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Bearing Point Capital LLC bought a new position in Ternium during the 4th quarter valued at about $459,000. Aquatic Capital Management LLC lifted its position in shares of Ternium by 28.4% in the 4th quarter. Aquatic Capital Management LLC now owns 2,182 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 482 shares during the period. NewEdge Advisors LLC lifted its position in shares of Ternium by 500.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 1,000 shares during the period. Renaissance Technologies LLC lifted its position in shares of Ternium by 10.4% in the 4th quarter. Renaissance Technologies LLC now owns 304,400 shares of the basic materials company’s stock worth $8,852,000 after purchasing an additional 28,700 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Ternium by 8.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 32,080 shares of the basic materials company’s stock worth $933,000 after purchasing an additional 2,462 shares during the period. 11.98% of the stock is currently owned by institutional investors.

Ternium Stock Up 5.1%

NYSE:TX opened at $28.79 on Tuesday. The firm has a market capitalization of $5.77 billion, a P/E ratio of -102.82, a PEG ratio of 0.38 and a beta of 1.53. Ternium S.A. has a 1-year low of $24.00 and a 1-year high of $43.57. The company’s fifty day moving average price is $28.29 and its 200-day moving average price is $29.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.88 and a quick ratio of 1.67.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, April 29th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.33 by $0.22. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $4 billion. Ternium had a negative net margin of 0.31% and a positive return on equity of 1.82%. The firm’s revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the business earned $1.84 earnings per share. As a group, equities research analysts anticipate that Ternium S.A. will post 4.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TX. The Goldman Sachs Group decreased their target price on shares of Ternium from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. UBS Group began coverage on shares of Ternium in a research report on Wednesday, March 12th. They set a “neutral” rating and a $32.00 target price for the company. Finally, Bank of America reaffirmed an “underperform” rating and issued a $25.00 price target on shares of Ternium in a report on Monday, April 7th.

Ternium 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.