Lazard Asset Management LLC recently announced the acquisition of new stake in Ternium S.A. (NYSE:TX). The institutional investor has increased its shareholding in the Basic Materials company by 11.83% to 2.85 million shares with purchase of 0.3 million shares. This fresh investment now brings its stake to 1.45% valued currently at $87.23 million. In addition, Eastspring Investments raised its holdings by 0.17 million to 0.96 million shares. And Cape Ann Asset Management Ltd. has lifted its position by 11.32% or 96900.0 shares – to 0.95 million shares.
With over 0.24 million Ternium S.A. (TX) shares trading Tuesday and a closing price of $35.97 on the day, the dollar volume was approximately $8.8 million. The shares have shown a positive half year performance of 15.10% and its price on 01/17/23 gained nearly 0.62%. Currently, there are 196.31M common shares owned by the public and among those 194.34M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for TX have a consensus price objective of $41.25. The analysts have set the share’s price value over the next 12 months at a high of $61.00 and a low of $33.00. The average price target is 19.26% above its recent price level and a downside to the estimated low will see the stock lose -9.0% over that period. But an upside of 41.03% will see the stock hit the forecast high price target while median target price for the stock is $39.00.
The top 3 mutual fund holders in Ternium S.A. are Ibuplus SA de CV SIRV, Fondo Inbursa, SA de CV S.I.R.V., and Lazard Emerging Markets Equity Po. Ibuplus SA de CV SIRV owns 1.4 million shares of the company’s stock, all valued at over $42.77 million. Lazard Emerging Markets Equity Po bought 21476.0 shares to bring its total holdings to over 0.6 million shares at a value of $18.19 million. Lazard Emerging Markets Equity Po now owns shares totaling to 0.30% of the shares outstanding.
Shares of Ternium S.A. (NYSE: TX) opened at $35.90, up $0.15 from a prior closing price of $35.75. However, the script later moved the day high at 36.30, up 0.62%. The company’s stock has a 5-day price change of 11.36% and 32.54% over the past three months. TX shares are trading 17.70% year to date (YTD), with the 12-month market performance down to -23.32% lower. It has a 12-month low price of $26.01 and touched a high of $50.36 over the same period. TX has an average intraday trading volume of 240.75K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.34%, 15.87%, and 3.32% respectively.
Institutional ownership of Ternium S.A. (NYSE: TX) shares accounts for 14.00% of the company’s 196.31M shares outstanding. Mutual fund holders own 4.40%, while other institutional holders and individual stakeholders account for 7.78% and — respectively.
It has a market capitalization of $6.98B and a beta (3y monthly) value of 1.43. The stock’s trailing 12-month PE ratio is 2.59, while the earnings-per-share (ttm) stands at $13.88. The company has a PEG of 2.59 and a Quick Ratio of 2.30 with the debt-to-equity ratio at 0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.76% over the week and 2.79% over the month.
Analysts forecast that Ternium S.A. (TX) will achieve an EPS of $1.86 for the current quarter, $1.29 for the next quarter and $5.83 for 2023. The lowest estimate earnings-per-share for the quarter is $1.32 while analysts give the company a high EPS estimate of $2.56. Comparatively, EPS for the current quarter was $6.12 a year ago. Earnings per share for the fiscal year are expected to increase by 391.40%, and -49.40% over the next financial year. EPS should shrink at an annualized rate of 1.00% over the next five years, compared to 45.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Ternium S.A. (TX) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 7 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TX, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on August 26, 2022, with the firm’s price target at $53-$40. Wolfe Research coverage for the Ternium S.A. (TX) stock in a research note released on March 11, 2022 offered a Peer Perform rating with a price target of $43. Wolfe Research was of a view on January 11, 2022 that the stock is Underperform, while Scotiabank gave the stock Sector Outperform rating on December 20, 2021, issuing a price target of $63- $61. Goldman on their part issued Buy rating on December 10, 2021.
