Cape Ann Asset Management Ltd Reduces Stock Position in Ternium S.A. (NYSE:TX)

Cape Ann Asset Management Ltd decreased its holdings in shares of Ternium S.A. (NYSE:TX) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 863,685 shares of the basic materials company’s stock after selling 4,500 shares during the quarter. Ternium makes up 21.8% of Cape Ann Asset Management Ltd’s holdings, making the stock its 3rd biggest position. Cape Ann Asset Management Ltd’s holdings in Ternium were worth $31,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Ternium in the first quarter valued at about $107,000. Quadrature Capital Ltd increased its holdings in shares of Ternium by 17.5% during the first quarter. Quadrature Capital Ltd now owns 21,934 shares of the basic materials company’s stock worth $914,000 after purchasing an additional 3,271 shares during the period. Virtus Investment Advisers Inc. bought a new position in shares of Ternium during the first quarter worth approximately $202,000. Beck Bode LLC acquired a new stake in shares of Ternium in the first quarter valued at approximately $1,253,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Ternium by 28.9% in the second quarter. QRG Capital Management Inc. now owns 9,110 shares of the basic materials company’s stock valued at $342,000 after buying an additional 2,045 shares during the period. 11.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded Ternium from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Ternium Stock Performance

NYSE:TX opened at $33.43 on Friday. The stock’s 50-day moving average is $35.24 and its 200-day moving average is $36.47. Ternium S.A. has a 1-year low of $30.68 and a 1-year high of $44.44. The company has a current ratio of 2.92, a quick ratio of 1.67 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.56 billion, a P/E ratio of 83.58, a price-to-earnings-growth ratio of 0.24 and a beta of 1.77.

Ternium (NYSE:TX) last announced its earnings results on Tuesday, November 5th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.45 billion. Ternium had a return on equity of 4.70% and a net margin of 0.42%. Ternium’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period last year, the company earned $1.38 EPS. Equities research analysts anticipate that Ternium S.A. will post 3.7 earnings per share for the current year.

Ternium Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be given a $0.09 dividend. This represents a dividend yield of 8.5%. The ex-dividend date is Monday, November 18th. Ternium’s dividend payout ratio (DPR) is presently 450.01%.

About Ternium

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.