Empirical Finance LLC Purchases New Position in Ternium S.A. $TX

Empirical Finance LLC purchased a new position in Ternium S.A. (NYSE:TX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 61,431 shares of the basic materials company’s stock, valued at approximately $1,849,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group raised its stake in shares of Ternium by 201,700.0% during the 1st quarter. Brooklyn Investment Group now owns 2,018 shares of the basic materials company’s stock worth $63,000 after buying an additional 2,017 shares during the period. Hantz Financial Services Inc. increased its holdings in Ternium by 1,361.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 6,998 shares of the basic materials company’s stock worth $211,000 after acquiring an additional 6,519 shares in the last quarter. Arrow Investment Advisors LLC acquired a new position in Ternium during the second quarter worth $221,000. Aberdeen Group plc acquired a new position in Ternium during the second quarter worth $258,000. Finally, Cetera Investment Advisers lifted its holdings in Ternium by 10.1% during the first quarter. Cetera Investment Advisers now owns 9,671 shares of the basic materials company’s stock valued at $301,000 after purchasing an additional 890 shares in the last quarter. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

Ternium Stock Down 1.1%

Shares of TX opened at $35.61 on Thursday. The company has a current ratio of 2.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.12. The firm has a market cap of $7.14 billion, a P/E ratio of 11.99 and a beta of 1.55. The company’s 50-day moving average price is $35.70 and its 200 day moving average price is $32.51. Ternium S.A. has a 12-month low of $24.00 and a 12-month high of $38.15.

Ternium (NYSE:TX) last issued its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.68). Ternium had a return on equity of 1.88% and a net margin of 3.72%.The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. The business’s revenue was down 11.7% compared to the same quarter last year. On average, sell-side analysts forecast that Ternium S.A. will post 4.37 earnings per share for the current year.

Ternium Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were issued a $0.90 dividend. The ex-dividend date was Monday, November 10th. This represents a yield of 503.0%. Ternium’s dividend payout ratio (DPR) is 60.61%.

Analyst Ratings Changes

TX has been the subject of a number of research reports. HSBC set a $41.00 target price on shares of Ternium and gave the stock a “buy” rating in a research note on Friday, October 17th. Wall Street Zen downgraded Ternium from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Ternium from $39.00 to $40.50 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Scotiabank dropped their target price on Ternium from $41.00 to $40.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company raised shares of Ternium to a “strong sell” rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Ternium presently has an average rating of “Hold” and an average target price of $34.69.

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.