Pacer Advisors Inc. increased its stake in shares of Terex Corporation (NYSE:TEX) by 450.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,446 shares of the industrial products company’s stock after acquiring an additional 3,638 shares during the period. Pacer Advisors Inc.’s holdings in Terex were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in Terex by 17.9% during the third quarter. Macquarie Group Ltd. now owns 78,403 shares of the industrial products company’s stock worth $3,530,000 after purchasing an additional 11,900 shares in the last quarter. TCW Group Inc. boosted its position in Terex by 0.8% during the third quarter. TCW Group Inc. now owns 2,835,710 shares of the industrial products company’s stock worth $127,664,000 after purchasing an additional 23,301 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Terex during the third quarter worth approximately $275,000. New York State Common Retirement Fund boosted its position in Terex by 2.4% during the third quarter. New York State Common Retirement Fund now owns 230,125 shares of the industrial products company’s stock worth $10,360,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Terex by 52.9% during the third quarter. Sei Investments Co. now owns 5,812 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 2,012 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Kevin A. Barr sold 2,682 shares of Terex stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $43.05, for a total transaction of $115,460.10. Following the transaction, the insider now owns 126,762 shares in the company, valued at $5,457,104.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Mark I. Clair sold 3,014 shares of Terex stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $45.53, for a total value of $137,227.42. The disclosure for this sale can be found here. In the last 90 days, insiders bought 1,204 shares of company stock worth $51,805 and sold 54,737 shares worth $2,308,703. Company insiders own 2.50% of the company’s stock.
Terex Corporation (NYSE TEX) traded up $0.52 during midday trading on Tuesday, hitting $46.33. The stock had a trading volume of 2,348,000 shares, compared to its average volume of 1,447,209. The stock has a market capitalization of $3,910.00, a P/E ratio of 40.54, a PEG ratio of 3.17 and a beta of 1.88. Terex Corporation has a 1-year low of $28.67 and a 1-year high of $48.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.53 and a current ratio of 2.42.
Terex (NYSE:TEX) last released its earnings results on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.14. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.03 billion. Terex had a positive return on equity of 7.01% and a negative net margin of 2.62%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. research analysts forecast that Terex Corporation will post 1.29 EPS for the current fiscal year.
Terex declared that its Board of Directors has approved a share buyback program on Wednesday, September 6th that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.69%. Terex’s dividend payout ratio (DPR) is presently -16.67%.
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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