Ternium S.A. $TX Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its stake in shares of Ternium S.A. (NYSE:TX) by 63.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,229 shares of the basic materials company’s stock after purchasing an additional 46,700 shares during the quarter. Mackenzie Financial Corp’s holdings in Ternium were worth $3,619,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TX. Boston Partners grew its position in shares of Ternium by 4.1% during the first quarter. Boston Partners now owns 20,994 shares of the basic materials company’s stock worth $654,000 after buying an additional 827 shares in the last quarter. Cetera Investment Advisers raised its holdings in Ternium by 10.1% in the first quarter. Cetera Investment Advisers now owns 9,671 shares of the basic materials company’s stock valued at $301,000 after acquiring an additional 890 shares in the last quarter. Brooklyn Investment Group lifted its stake in Ternium by 201,700.0% in the first quarter. Brooklyn Investment Group now owns 2,018 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 2,017 shares during the last quarter. Vident Advisory LLC grew its holdings in Ternium by 60.4% during the 1st quarter. Vident Advisory LLC now owns 12,276 shares of the basic materials company’s stock worth $383,000 after acquiring an additional 4,624 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in Ternium by 31.5% during the 1st quarter. Royal Bank of Canada now owns 26,965 shares of the basic materials company’s stock worth $840,000 after acquiring an additional 6,453 shares in the last quarter. Institutional investors and hedge funds own 11.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TX shares. HSBC set a $41.00 price objective on shares of Ternium and gave the company a “buy” rating in a report on Friday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of Ternium in a research note on Wednesday, October 8th. Scotiabank decreased their price target on Ternium from $41.00 to $40.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 3rd. Zacks Research upgraded Ternium from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. Finally, JPMorgan Chase & Co. raised their target price on Ternium from $39.00 to $40.50 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.69.

Ternium Price Performance

Shares of TX opened at $38.62 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.46 and a quick ratio of 1.42. Ternium S.A. has a 1-year low of $24.00 and a 1-year high of $38.81. The stock has a market cap of $7.74 billion, a PE ratio of 13.00 and a beta of 1.36. The firm has a fifty day moving average price of $36.13 and a 200 day moving average price of $33.10.

Ternium (NYSE:TX) last issued its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.68). Ternium had a return on equity of 1.89% and a net margin of 3.72%.The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the business posted $0.16 EPS. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ternium S.A. will post 4.37 EPS for the current year.

Ternium Announces Dividend

The company also recently declared a dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a yield of 503.0%. Ternium’s payout ratio is 60.61%.

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.