Oaktree Capital Management LP Cuts Position in Ternium S.A. $TX

Oaktree Capital Management LP lessened its position in Ternium S.A. (NYSE:TX) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 582,924 shares of the basic materials company’s stock after selling 75,641 shares during the quarter. Oaktree Capital Management LP’s holdings in Ternium were worth $23,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TX. Lazard Asset Management LLC lifted its stake in Ternium by 8.0% during the first quarter. Lazard Asset Management LLC now owns 6,336,127 shares of the basic materials company’s stock worth $254,395,000 after purchasing an additional 469,846 shares during the last quarter. Cape Ann Asset Management Ltd increased its position in shares of Ternium by 20.5% during the 4th quarter. Cape Ann Asset Management Ltd now owns 1,068,649 shares of the basic materials company’s stock valued at $40,812,000 after purchasing an additional 182,000 shares during the last quarter. Amundi increased its position in shares of Ternium by 19.9% during the 1st quarter. Amundi now owns 703,304 shares of the basic materials company’s stock valued at $28,238,000 after purchasing an additional 116,813 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Ternium by 569.4% during the 1st quarter. Millennium Management LLC now owns 126,827 shares of the basic materials company’s stock valued at $3,952,000 after buying an additional 107,880 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Ternium by 586.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 97,202 shares of the basic materials company’s stock valued at $3,903,000 after buying an additional 83,041 shares in the last quarter. Hedge funds and other institutional investors own 11.98% of the company’s stock.

Ternium Stock Down 2.5%

NYSE:TX opened at $48.08 on Thursday. The firm has a 50-day simple moving average of $46.32 and a two-hundred day simple moving average of $43.62. The firm has a market cap of $9.64 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.18 and a beta of 1.29. Ternium S.A. has a fifty-two week low of $30.44 and a fifty-two week high of $51.73. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.53 and a current ratio of 2.63.

Ternium (NYSE:TX) last released its quarterly earnings data on Tuesday, March 31st. The basic materials company reported $1.10 EPS for the quarter. Ternium had a return on equity of 3.70% and a net margin of 3.66%.The company had revenue of $3.93 billion for the quarter. Analysts predict that Ternium S.A. will post 5.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TX shares. The Goldman Sachs Group reiterated a “buy” rating and set a $57.00 price target on shares of Ternium in a research report on Friday, May 22nd. Wells Fargo & Company upgraded shares of Ternium from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $43.00 to $45.00 in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ternium in a report on Wednesday, May 20th. Bradesco Corretora upgraded shares of Ternium to an “outperform” rating and set a $62.00 target price on the stock in a research report on Tuesday, May 19th. Finally, Wall Street Zen raised Ternium from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.94.

Ternium Company Profile

Ternium SA (NYSE:TX) is a leading vertically integrated steel producer with operations across the Americas. The company manufactures a broad range of flat and long steel products, including hot‐rolled and cold‐rolled coils, galvanized and tin-coated sheets, plates, rebars, wire rods, bars and structural sections. These products serve diverse end markets such as automotive, construction, energy, industrial machinery, home appliances and packaging.

Established in 2005 through the consolidation of steel assets in Argentina and Mexico, Ternium has grown to operate major production facilities in Argentina, Brazil, Mexico, Colombia, Central America and the United States.