Oaktree Capital Management LP Decreases Stake in Ternium S.A. (NYSE:TX)

Oaktree Capital Management LP cut its stake in shares of Ternium S.A. (NYSE:TX) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 828,309 shares of the basic materials company’s stock after selling 16,600 shares during the quarter. Oaktree Capital Management LP owned about 0.42% of Ternium worth $24,087,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Ternium by 14.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,250 shares of the basic materials company’s stock valued at $298,000 after acquiring an additional 1,289 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Ternium in the fourth quarter valued at $54,000. SBI Securities Co. Ltd. acquired a new stake in Ternium during the 4th quarter worth about $104,000. Atria Wealth Solutions Inc. purchased a new position in shares of Ternium during the 4th quarter valued at about $204,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Ternium by 11.6% in the 4th quarter. Principal Financial Group Inc. now owns 91,138 shares of the basic materials company’s stock valued at $2,650,000 after buying an additional 9,459 shares during the period. 11.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TX has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on Ternium from $45.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. UBS Group assumed coverage on shares of Ternium in a report on Wednesday, March 12th. They set a “neutral” rating and a $32.00 target price for the company.

Ternium Stock Down 2.2 %

Shares of TX opened at $31.07 on Friday. The firm has a market cap of $6.10 billion, a P/E ratio of -110.96, a PEG ratio of 0.38 and a beta of 1.76. Ternium S.A. has a 12 month low of $28.00 and a 12 month high of $44.44. The stock’s 50 day moving average is $30.47 and its two-hundred day moving average is $32.15. The company has a current ratio of 2.88, a quick ratio of 1.67 and a debt-to-equity ratio of 0.11.

Ternium (NYSE:TX) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($1.39). The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $4.18 billion. Ternium had a negative net margin of 0.31% and a positive return on equity of 1.82%. Analysts predict that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

Ternium Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, May 9th will be paid a $1.80 dividend. The ex-dividend date is Friday, May 9th. This is a positive change from Ternium’s previous semi-annual dividend of $0.09. This represents a yield of 10.3%. Ternium’s dividend payout ratio (DPR) is currently -1,285.71%.

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.