Ternium S.A. (NYSE:TX) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its position in Ternium S.A. (NYSE:TX) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,529 shares of the basic materials company’s stock after selling 3,800 shares during the quarter. Mackenzie Financial Corp’s holdings in Ternium were worth $2,291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TX. Wellington Management Group LLP lifted its holdings in Ternium by 15.5% during the 4th quarter. Wellington Management Group LLP now owns 208,827 shares of the basic materials company’s stock worth $6,073,000 after buying an additional 28,054 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Ternium by 249.5% during the 4th quarter. Headlands Technologies LLC now owns 1,681 shares of the basic materials company’s stock worth $49,000 after buying an additional 1,200 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Ternium by 8.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 32,080 shares of the basic materials company’s stock worth $933,000 after buying an additional 2,462 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Ternium by 10.4% during the 4th quarter. Renaissance Technologies LLC now owns 304,400 shares of the basic materials company’s stock worth $8,852,000 after buying an additional 28,700 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Ternium by 500.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the basic materials company’s stock worth $35,000 after buying an additional 1,000 shares in the last quarter. 11.98% of the stock is currently owned by institutional investors and hedge funds.

Ternium Trading Down 1.7%

Shares of NYSE:TX opened at $32.04 on Monday. The company’s 50 day moving average is $30.41 and its two-hundred day moving average is $29.77. Ternium S.A. has a 52 week low of $24.00 and a 52 week high of $37.98. The company has a current ratio of 2.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.12. The company has a market cap of $6.42 billion, a PE ratio of 10.57 and a beta of 1.53.

Ternium (NYSE:TX) last announced its quarterly earnings results on Tuesday, July 29th. The basic materials company reported $1.28 EPS for the quarter, topping the consensus estimate of $0.66 by $0.62. Ternium had a net margin of 3.66% and a return on equity of 1.95%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same period last year, the business earned ($0.11) EPS. Ternium’s revenue for the quarter was down 12.6% compared to the same quarter last year. Equities analysts predict that Ternium S.A. will post 4.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TX has been the topic of a number of research reports. Scotiabank reduced their target price on shares of Ternium from $53.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Thursday, July 17th. Bank of America reissued an “underperform” rating and issued a $25.00 price objective on shares of Ternium in a research report on Monday, April 7th. Finally, Morgan Stanley downgraded shares of Ternium from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a research report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ternium has an average rating of “Hold” and a consensus target price of $33.40.

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.