Ternium S.A. (NYSE:TX) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Monday.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Ternium from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Saturday, June 17th. J P Morgan Chase & Co restated an “overweight” rating and set a $35.00 target price (up from $33.00) on shares of Ternium in a report on Friday, July 21st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $30.50.
Ternium (TX) opened at 30.48 on Monday. The company has a market capitalization of $5.98 billion, a P/E ratio of 7.85 and a beta of 1.07. Ternium has a 12 month low of $18.29 and a 12 month high of $31.88. The stock’s 50 day moving average price is $28.08 and its 200-day moving average price is $25.93.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its position in shares of Ternium by 11.0% in the second quarter. Acadian Asset Management LLC now owns 6,694,437 shares of the basic materials company’s stock valued at $188,048,000 after buying an additional 661,707 shares during the last quarter. Oldfield Partners LLP boosted its stake in Ternium by 46.5% in the first quarter. Oldfield Partners LLP now owns 2,314,439 shares of the basic materials company’s stock valued at $41,614,000 after buying an additional 735,110 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in Ternium by 1.3% in the second quarter. Pictet Asset Management Ltd. now owns 1,221,890 shares of the basic materials company’s stock valued at $31,794,000 after buying an additional 15,936 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Ternium by 2.7% in the first quarter. Russell Investments Group Ltd. now owns 735,915 shares of the basic materials company’s stock valued at $19,224,000 after buying an additional 19,013 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Ternium by 18.7% in the first quarter. Wells Fargo & Company MN now owns 683,225 shares of the basic materials company’s stock valued at $17,846,000 after buying an additional 107,420 shares in the last quarter. 21.66% of the stock is owned by institutional investors and hedge funds.
About Ternium
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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