Terex (NYSE:TEX) Shares Up 5.9%

Terex Co. (NYSE:TEX) shot up 5.9% on Friday . The stock traded as high as $30.59 and last traded at $30.29, 1,587,791 shares changed hands during trading. An increase of 51% from the average session volume of 1,053,490 shares. The stock had previously closed at $28.60.

Several brokerages recently weighed in on TEX. Wells Fargo & Co decreased their price target on Terex from $35.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. Barclays downgraded Terex from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $33.00 to $20.00 in a report on Friday, October 11th. ValuEngine raised Terex from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley set a $30.00 target price on Terex and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada set a $35.00 target price on Terex and gave the company a “hold” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $29.15.

The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.77. The company has a quick ratio of 1.28, a current ratio of 2.21 and a debt-to-equity ratio of 1.46. The firm has a 50-day moving average of $26.66 and a two-hundred day moving average of $28.18.

Terex (NYSE:TEX) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.11 billion. Terex had a negative net margin of 0.07% and a positive return on equity of 29.17%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. As a group, sell-side analysts predict that Terex Co. will post 3.08 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, November 7th. Terex’s payout ratio is 16.24%.

In related news, insider Matthew Fearon sold 26,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $28.24, for a total transaction of $734,240.00. Following the transaction, the insider now directly owns 92,702 shares of the company’s stock, valued at $2,617,904.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 1,651 shares of company stock worth $41,542 over the last three months. 4.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Cibc World Markets Corp increased its holdings in shares of Terex by 132.3% during the 2nd quarter. Cibc World Markets Corp now owns 253,000 shares of the industrial products company’s stock valued at $7,944,000 after acquiring an additional 144,100 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Terex by 6.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,983 shares of the industrial products company’s stock worth $784,000 after acquiring an additional 1,565 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Terex by 32.1% during the 2nd quarter. First Mercantile Trust Co. now owns 4,610 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 1,120 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Terex by 22.7% during the 2nd quarter. BlackRock Inc. now owns 7,024,611 shares of the industrial products company’s stock worth $220,572,000 after acquiring an additional 1,301,760 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Terex by 40.7% during the 2nd quarter. UBS Group AG now owns 201,137 shares of the industrial products company’s stock worth $6,316,000 after acquiring an additional 58,132 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

About Terex (NYSE:TEX)

Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.

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