Renaissance Technologies LLC Raises Stock Position in Ternium S.A. (NYSE:TX)

Renaissance Technologies LLC grew its position in Ternium S.A. (NYSE:TX - Free Report) by 43.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 258,600 shares of the basic materials company's stock after buying an additional 77,800 shares during the period. Renaissance Technologies LLC owned 0.13% of Ternium worth $9,710,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Donald Smith & CO. Inc. acquired a new stake in Ternium in the second quarter worth about $50,566,000. Allspring Global Investments Holdings LLC increased its stake in Ternium by 20,865.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 220,765 shares of the basic materials company's stock valued at $9,188,000 after purchasing an additional 219,712 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Ternium by 277.7% during the fourth quarter. Allianz Asset Management GmbH now owns 196,082 shares of the basic materials company's stock valued at $8,328,000 after buying an additional 144,171 shares during the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Ternium in the 1st quarter valued at $5,426,000. Finally, Contrarian Capital Management L.L.C. raised its stake in Ternium by 8.9% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 1,117,981 shares of the basic materials company's stock worth $47,481,000 after acquiring an additional 91,629 shares during the last quarter. Hedge funds and other institutional investors own 11.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Ternium from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 28th. StockNews.com downgraded shares of Ternium from a "buy" rating to a "hold" rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ternium presently has a consensus rating of "Moderate Buy" and an average target price of $52.33.

Ternium Stock Performance

Shares of TX traded up $0.83 during mid-day trading on Tuesday, reaching $36.58. The company had a trading volume of 311,509 shares, compared to its average volume of 217,352. The stock has a 50 day moving average of $34.25 and a two-hundred day moving average of $38.43. The company has a quick ratio of 1.57, a current ratio of 2.74 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $7.33 billion, a P/E ratio of 10.91, a PEG ratio of 0.15 and a beta of 1.76. Ternium S.A. has a 52-week low of $30.68 and a 52-week high of $44.44.

Ternium (NYSE:TX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The basic materials company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($1.36). Ternium had a positive return on equity of 6.08% and a negative net margin of 3.57%. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the business earned $3.19 EPS. Ternium's revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts expect that Ternium S.A. will post 7.01 earnings per share for the current year.

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.