Trade Report: Today, Advisors Asset Management Inc. Reached $661,000 position of Ternium SA (TX)

Today, Advisors Asset Management Inc. Reached $661,000 position  of Ternium SA (TX)

Advisors Asset Management Inc. reduced its position in shares of Ternium SA (NYSE:TX) by 8.0% during the third quarter, Holdings Channel reports. The fund owned 33,662 shares of the company’s stock after selling 2,912 shares during the period. Advisors Asset Management Inc.’s holdings in Ternium SA were worth $661,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TX. Acadian Asset Management LLC increased its position in shares of 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 during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Ternium SA during the second quarter worth approximately $14,655,000. Wellington Management Group LLP increased its position in shares of Ternium SA by 510.8% in the first quarter. Wellington Management Group LLP now owns 910,700 shares of the company’s stock worth $16,374,000 after buying an additional 761,600 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Ternium SA during the second quarter worth approximately $9,033,000. Finally, Pastel & Associes SA acquired a new position in shares of Ternium SA during the second quarter worth approximately $7,949,000. 22.13% of the stock is owned by hedge funds and other institutional investors.

Shares of Ternium SA (NYSE:TX) traded up 1.16% during mid-day trading on Friday, reaching $24.48. 310,429 shares of the company’s stock traded hands. Ternium SA has a 12-month low of $10.28 and a 12-month high of $26.50. The company’s 50-day moving average price is $22.81 and its 200-day moving average price is $20.73. The stock has a market capitalization of $4.81 billion, a PE ratio of 13.69 and a beta of 1.38.

Ternium SA (NYSE:TX) last released its earnings results on Thursday, November 3rd. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.29. The business earned $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Ternium SA had a net margin of 5.29% and a return on equity of 11.49%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. Analysts anticipate that Ternium SA will post $2.82 earnings per share for the current year.

A number of research analysts recently commented on TX shares. Zacks Investment Research raised shares of Ternium SA from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a report on Tuesday, November 15th. Itau BBA Securities raised shares of Ternium SA from a “market perform” rating to an “outperform” rating in a report on Thursday, November 3rd. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $21.00 price target on shares of Ternium SA in a report on Tuesday, September 27th. JPMorgan Chase & Co. increased their price target on shares of Ternium SA from $27.00 to $29.50 and gave the company an “overweight” rating in a report on Friday, August 5th. Finally, HSBC downgraded shares of Ternium SA from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $23.66.

About Ternium SA

Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.

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