Empirical Finance LLC Acquires New Holdings in Ternium S.A. $TX

Empirical Finance LLC bought a new position in shares of Ternium S.A. (NYSE:TX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 61,431 shares of the basic materials company's stock, valued at approximately $1,849,000.

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A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hantz Financial Services Inc. grew its stake in Ternium by 1,361.0% in the second quarter. Hantz Financial Services Inc. now owns 6,998 shares of the basic materials company's stock valued at $211,000 after purchasing an additional 6,519 shares during the last quarter. Aberdeen Group plc purchased a new position in shares of Ternium in the 2nd quarter worth approximately $258,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Ternium by 5.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 403,293 shares of the basic materials company's stock worth $12,139,000 after acquiring an additional 20,000 shares in the last quarter. Ninety One North America Inc. lifted its position in Ternium by 23.4% during the second quarter. Ninety One North America Inc. now owns 1,023,049 shares of the basic materials company's stock valued at $30,794,000 after acquiring an additional 194,174 shares during the last quarter. Finally, Ninety One UK Ltd boosted its stake in Ternium by 5.2% in the second quarter. Ninety One UK Ltd now owns 2,407,110 shares of the basic materials company's stock valued at $72,454,000 after acquiring an additional 118,595 shares in the last quarter. 11.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TX has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Ternium in a research report on Wednesday, October 8th. Scotiabank dropped their price target on Ternium from $41.00 to $40.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. increased their price objective on shares of Ternium from $39.00 to $40.50 and gave the company an "overweight" rating in a research report on Friday, October 17th. HSBC set a $41.00 target price on shares of Ternium and gave the stock a "buy" rating in a research report on Friday, October 17th. Finally, Wall Street Zen cut shares of Ternium from a "buy" rating to a "hold" rating in a report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $34.69.

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Check Out Our Latest Stock Report on TX

Ternium Stock Performance

NYSE TX opened at $35.61 on Thursday. The firm has a market capitalization of $7.14 billion, a P/E ratio of 11.99 and a beta of 1.55. The stock has a 50-day simple moving average of $35.70 and a two-hundred day simple moving average of $32.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.59 and a current ratio of 2.68. Ternium S.A. has a fifty-two week low of $24.00 and a fifty-two week high of $38.15.

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

Ternium Announces Dividend

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

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.

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