Trading Report: Today, Principal Financial Group Inc. Invests $9,033,000 in Ternium SA (TX)

Today, Principal Financial Group Inc. Invests $9,033,000 in Ternium SA (TX)

Principal Financial Group Inc. bought a new position in Ternium SA (NYSE:TX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 473,905 shares of the company’s stock, valued at approximately $9,033,000. Principal Financial Group Inc. owned approximately 0.24% of Ternium SA at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TX. Acadian Asset Management LLC raised its stake in Ternium SA by 64.9% in the second quarter. Acadian Asset Management LLC now owns 6,431,660 shares of the company’s stock worth $122,584,000 after buying an additional 2,532,434 shares in the last quarter. Wellington Management Group LLP raised its position in Ternium SA by 510.8% in the first quarter. Wellington Management Group LLP now owns 910,700 shares of the company’s stock valued at $16,374,000 after buying an additional 761,600 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Ternium SA during the second quarter valued at $14,655,000. Renaissance Technologies LLC raised its position in Ternium SA by 2.5% in the first quarter. Renaissance Technologies LLC now owns 635,000 shares of the company’s stock valued at $11,417,000 after buying an additional 15,700 shares in the last quarter. Finally, Pastel & Associes SA bought a new position in Ternium SA during the second quarter valued at $7,949,000. Institutional investors and hedge funds own 21.22% of the company’s stock.

Shares of Ternium SA (NYSE:TX) opened at 20.69 on Tuesday. The firm has a 50-day moving average of $19.66 and a 200 day moving average of $19.82. The company has a market capitalization of $4.06 billion, a P/E ratio of 27.62 and a beta of 1.56. Ternium SA has a 52-week low of $10.28 and a 52-week high of $23.60.

Ternium SA (NYSE:TX) last announced its earnings results on Tuesday, August 2nd. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.14. Ternium SA had a return on equity of 7.24% and a net margin of 2.42%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business posted $0.21 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. On average, analysts anticipate that Ternium SA will post $2.54 EPS for the current year.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Ternium SA from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Saturday, August 6th. TheStreet upgraded shares of Ternium SA from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Ternium SA from $27.00 to $29.50 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $21.00 price objective on shares of Ternium SA in a research note on Tuesday, September 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Ternium SA currently has a consensus rating of “Buy” and an average target price of $22.68.

Ternium SA Company Profile

Ternium SA is a steel producer in Latin America. The Company manufactures and processes a range of steel products, including galvanized and electro-galvanized sheets, pre-painted sheets, tinplate, welded pipes, hot-rolled flat products, cold-rolled products, bars and wire rods, as well as slitted and cut-to-length offerings through its service centers.

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