Geode Capital Management LLC Decreases Stake in Ternium S.A. (NYSE:TX)

Geode Capital Management LLC decreased its holdings in shares of Ternium S.A. (NYSE:TX - Free Report) by 95.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,917 shares of the basic materials company's stock after selling 169,139 shares during the quarter. Geode Capital Management LLC's holdings in Ternium were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Ternium by 72.1% during the third quarter. GAMMA Investing LLC now owns 919 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 385 shares in the last quarter. Blue Trust Inc. boosted its holdings in Ternium by 216.9% in the 3rd quarter. Blue Trust Inc. now owns 4,535 shares of the basic materials company's stock valued at $170,000 after purchasing an additional 3,104 shares during the period. Quantbot Technologies LP purchased a new position in shares of Ternium during the 3rd quarter valued at $242,000. Verition Fund Management LLC bought a new position in shares of Ternium in the third quarter worth $244,000. Finally, MQS Management LLC purchased a new stake in shares of Ternium in the second quarter worth $444,000. Hedge funds and other institutional investors own 11.98% of the company's stock.

Ternium Price Performance

Shares of NYSE:TX traded down $0.40 during trading on Tuesday, reaching $28.69. The company had a trading volume of 189,107 shares, compared to its average volume of 174,788. Ternium S.A. has a 12 month low of $28.40 and a 12 month high of $44.44. The company has a current ratio of 2.92, a quick ratio of 1.67 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.63 billion, a P/E ratio of 71.73, a price-to-earnings-growth ratio of 0.47 and a beta of 1.76. The company has a fifty day moving average of $31.61 and a two-hundred day moving average of $33.89.

Ternium (NYSE:TX - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.45 billion. Ternium had a return on equity of 4.70% and a net margin of 0.42%. The company's revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. Equities research analysts forecast that Ternium S.A. will post 3.7 earnings per share for the current year.

Ternium Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were paid a dividend of $0.09 per share. This represents a dividend yield of 8.5%. The ex-dividend date of this dividend was Monday, November 18th. Ternium's dividend payout ratio (DPR) is presently 450.00%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Ternium from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th.

About Ternium

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.