Allianz Asset Management GmbH Sells 90,184 Shares of Ternium S.A. (NYSE:TX)

Allianz Asset Management GmbH reduced its holdings in Ternium S.A. (NYSE:TX) by 70.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,008 shares of the basic materials company’s stock after selling 90,184 shares during the period. Allianz Asset Management GmbH’s holdings in Ternium were worth $1,154,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TX. NewEdge Advisors LLC lifted its stake in shares of Ternium by 500.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company’s stock valued at $35,000 after buying an additional 1,000 shares during the period. Headlands Technologies LLC lifted its position in shares of Ternium by 249.5% in the 4th quarter. Headlands Technologies LLC now owns 1,681 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 1,200 shares during the period. GAMMA Investing LLC grew its holdings in shares of Ternium by 51.8% during the 1st quarter. GAMMA Investing LLC now owns 1,913 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 653 shares in the last quarter. Aquatic Capital Management LLC grew its holdings in shares of Ternium by 28.4% during 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 in the last quarter. Finally, Cornerstone Select Advisors LLC bought a new stake in shares of Ternium during the fourth quarter valued at approximately $215,000. 11.98% of the stock is owned by institutional investors.

Ternium Stock Down 0.4%

NYSE TX opened at $32.53 on Friday. The stock’s 50 day simple moving average is $30.32 and its 200 day simple moving average is $29.73. Ternium S.A. has a one year low of $24.00 and a one year high of $37.98. The firm has a market cap of $6.52 billion, a PE ratio of 10.73 and a beta of 1.48. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 1.76.

Ternium (NYSE:TX) last announced its earnings results on Tuesday, July 29th. The basic materials company reported $1.28 EPS for the quarter, topping the consensus estimate of $0.66 by $0.62. Ternium had a return on equity of 1.95% and a net margin of 3.66%. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, sell-side analysts forecast that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on TX. Bank of America reaffirmed an “underperform” rating and set a $25.00 price objective on shares of Ternium in a report on Monday, April 7th. Scotiabank cut their target price on Ternium from $53.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 17th. Morgan Stanley lowered Ternium from an “overweight” rating to an “equal weight” rating and set a $34.00 price target on the stock. in a research note on Monday, July 21st. Finally, The Goldman Sachs Group dropped their price objective on Ternium from $39.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.40.

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.