AHL Partners LLP lifted its stake in shares of Terex Corporation (NYSE:TEX) by 7.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,063 shares of the industrial products company’s stock after purchasing an additional 5,423 shares during the period. AHL Partners LLP owned approximately 0.09% of Terex Corporation worth $2,890,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Sei Investments Co. raised its position in shares of Terex Corporation by 19.5% during the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 619 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Terex Corporation by 7.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 403 shares during the period. CIBC World Markets Inc. acquired a new stake in shares of Terex Corporation during the second quarter worth $210,000. National Planning Corp acquired a new stake in shares of Terex Corporation during the second quarter worth $209,000. Finally, US Bancorp DE raised its position in shares of Terex Corporation by 9.3% during the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock worth $188,000 after purchasing an additional 510 shares during the period. 97.38% of the stock is currently owned by institutional investors.
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Terex Corporation (NYSE TEX) opened at 45.51 on Wednesday. The stock’s market cap is $4.07 billion. The firm has a 50-day moving average price of $41.93 and a 200-day moving average price of $36.91. Terex Corporation has a 52 week low of $21.88 and a 52 week high of $45.93.
Terex Corporation (NYSE:TEX) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.09. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $0.64 EPS. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, equities research analysts predict that Terex Corporation will post $1.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Monday, August 7th. Terex Corporation’s payout ratio is -50.79%.
Terex Corporation declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 6th that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Kevin A. Barr sold 2,682 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $43.05, for a total value of $115,460.10. Following the completion of the transaction, the insider now owns 126,762 shares in the company, valued at approximately $5,457,104.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Sachs acquired 3,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $37.97 per share, with a total value of $113,910.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 4,264 shares of company stock valued at $165,731 and sold 101,679 shares valued at $4,098,710. 2.50% of the stock is owned by company insiders.
A number of equities research analysts have recently issued reports on TEX shares. Zacks Investment Research raised Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Thursday, July 13th. Credit Suisse Group set a $45.00 target price on Terex Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $41.00 target price (up from $38.50) on shares of Terex Corporation in a research report on Monday, June 19th. Deutsche Bank AG lowered Terex Corporation from a “buy” rating to a “hold” rating and cut their target price for the stock from $44.00 to $43.00 in a research report on Thursday, September 21st. Finally, Goldman Sachs Group, Inc. (The) lowered Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Thursday, June 15th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.07.
Terex Corporation Company Profile
Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.
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