Ninety One North America Inc. Sells 37,870 Shares of Ternium S.A. (NYSE:TX)

Ninety One North America Inc. reduced its stake in shares of Ternium S.A. (NYSE:TX) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 724,922 shares of the basic materials company’s stock after selling 37,870 shares during the quarter. Ternium accounts for approximately 1.5% of Ninety One North America Inc.’s portfolio, making the stock its 25th largest position. Ninety One North America Inc.’s holdings in Ternium were worth $30,787,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its stake in Ternium by 3.4% in the second quarter. Commonwealth Equity Services LLC now owns 7,647 shares of the basic materials company’s stock worth $303,000 after purchasing an additional 248 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Ternium by 49.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,053 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 350 shares during the last quarter. Citigroup Inc. raised its stake in shares of Ternium by 20.1% during the fourth quarter. Citigroup Inc. now owns 2,132 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 357 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Ternium by 2.1% during the third quarter. Royal Bank of Canada now owns 22,768 shares of the basic materials company’s stock valued at $624,000 after acquiring an additional 465 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Ternium by 9.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 5,707 shares of the basic materials company’s stock valued at $228,000 after acquiring an additional 483 shares during the last quarter. 11.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on TX. The Goldman Sachs Group upped their price objective on shares of Ternium from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on shares of Ternium from $48.00 to $51.50 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, TheStreet raised shares of Ternium from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $50.83.

Ternium Trading Up 0.1 %

TX stock traded up $0.06 during trading on Thursday, reaching $42.76. The company had a trading volume of 72,431 shares, compared to its average volume of 177,951. Ternium S.A. has a 52 week low of $35.22 and a 52 week high of $45.58. The company has a market cap of $8.57 billion, a P/E ratio of 12.42 and a beta of 1.69. The business has a 50 day moving average of $40.41 and a 200 day moving average of $39.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.17 and a quick ratio of 1.86.

Ternium (NYSE:TX) last announced its earnings results on Tuesday, February 20th. The basic materials company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.79. Ternium had a net margin of 3.84% and a return on equity of 10.84%. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. As a group, sell-side analysts forecast that Ternium S.A. will post 6.91 earnings per share for the current fiscal year.

Ternium Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, May 3rd will be paid a dividend of $2.20 per share. This is an increase from Ternium’s previous Semi-Annual dividend of $1.10. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a dividend yield of 6.9%. Ternium’s dividend payout ratio (DPR) is currently 127.91%.

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.