Mackenzie Financial Corp Boosts Holdings in Ternium S.A. (NYSE:TX)

Mackenzie Financial Corp boosted its position in Ternium S.A. (NYSE:TX - Free Report) by 28.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,729 shares of the basic materials company's stock after purchasing an additional 18,300 shares during the quarter. Mackenzie Financial Corp's holdings in Ternium were worth $3,514,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Ternium by 48.7% during the third quarter. Victory Capital Management Inc. now owns 966,286 shares of the basic materials company's stock worth $38,555,000 after purchasing an additional 316,432 shares during the period. CWA Asset Management Group LLC increased its holdings in shares of Ternium by 430.7% during the third quarter. CWA Asset Management Group LLC now owns 195,610 shares of the basic materials company's stock worth $7,805,000 after purchasing an additional 158,751 shares during the period. PointState Capital LP bought a new position in shares of Ternium during the third quarter worth approximately $4,952,000. Canada Pension Plan Investment Board increased its holdings in shares of Ternium by 42.6% during the third quarter. Canada Pension Plan Investment Board now owns 131,260 shares of the basic materials company's stock worth $5,237,000 after purchasing an additional 39,200 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Ternium during the fourth quarter worth approximately $1,328,000. 11.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TX shares. JPMorgan Chase & Co. lifted their price objective on shares of Ternium from $48.00 to $51.50 and gave the company an "overweight" rating in a research note on Thursday, March 21st. TheStreet raised shares of Ternium from a "c+" rating to a "b-" rating in a research note on Friday, January 12th. Finally, The Goldman Sachs Group lifted their price objective on shares of Ternium from $49.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $50.83.

Ternium Price Performance

Shares of NYSE TX traded down $0.54 during midday trading on Monday, reaching $42.65. 292,417 shares of the company were exchanged, compared to its average volume of 180,004. The stock's 50-day moving average price is $40.72 and its 200-day moving average price is $39.66. The stock has a market cap of $8.55 billion, a P/E ratio of 12.40 and a beta of 1.69. Ternium S.A. has a one year low of $35.22 and a one year high of $45.58. The company has a quick ratio of 1.86, a current ratio of 3.17 and a debt-to-equity ratio of 0.08.

Ternium (NYSE:TX - Get Free Report) last posted its earnings results on Tuesday, February 20th. The basic materials company reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.79. The firm had revenue of $4.93 billion for the quarter, compared to analysts' expectations of $4.94 billion. Ternium had a net margin of 3.84% and a return on equity of 10.84%. The company's revenue was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. On average, sell-side analysts anticipate that Ternium S.A. will post 6.14 earnings per share for the current fiscal year.

Ternium Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be paid a dividend of $2.20 per share. This represents a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a boost from Ternium's previous Semi-Annual dividend of $1.10. Ternium's payout ratio is presently 127.91%.

Ternium Company Profile

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.