TCW Group Inc. boosted its position in Terex Corporation (NYSE:TEX) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,835,710 shares of the industrial products company’s stock after purchasing an additional 23,301 shares during the quarter. TCW Group Inc. owned approximately 3.37% of Terex Corporation worth $127,664,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TEX. PNC Financial Services Group Inc. raised its holdings in Terex Corporation by 7.8% in 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 in the last quarter. Renaissance Technologies LLC bought a new position in Terex Corporation in the first quarter worth $2,079,000. Schwab Charles Investment Management Inc. raised its holdings in Terex Corporation by 9.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 346,725 shares of the industrial products company’s stock worth $10,888,000 after purchasing an additional 31,230 shares in the last quarter. Credit Suisse AG raised its holdings in Terex Corporation by 14.3% in the first quarter. Credit Suisse AG now owns 111,101 shares of the industrial products company’s stock worth $3,488,000 after purchasing an additional 13,922 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Terex Corporation by 11.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 25,710 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 2,710 shares in the last quarter. Institutional investors and hedge funds own 89.20% of the company’s stock.
In other Terex Corporation news, insider Matthew Fearon sold 13,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $38.00, for a total value of $494,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David A. Sachs bought 3,000 shares of the company’s stock in a transaction on Friday, August 18th. The stock was purchased at an average cost of $37.97 per share, for a total transaction of $113,910.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 4,204 shares of company stock worth $165,715 and sold 64,723 shares worth $2,665,476. Company insiders own 2.50% of the company’s stock.
Terex Corporation (TEX) traded up $0.07 during midday trading on Tuesday, reaching $44.62. The company had a trading volume of 1,597,300 shares, compared to its average volume of 1,451,308. Terex Corporation has a 52 week low of $27.77 and a 52 week high of $48.86. The company has a market cap of $3,746.66, a P/E ratio of 39.42, a price-to-earnings-growth ratio of 3.08 and a beta of 1.89. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.42 and a quick ratio of 1.53.
Terex Corporation (NYSE:TEX) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.36 by $0.14. Terex Corporation had a positive return on equity of 7.01% and a negative net margin of 2.62%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $0.19 EPS. Terex Corporation’s revenue for the quarter was up 5.2% on a year-over-year basis. equities research analysts anticipate that Terex Corporation will post 1.29 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders 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 yield of 0.72%. Terex Corporation’s payout ratio is -37.21%.
Terex Corporation declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 6th that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
TEX has been the subject of a number of research reports. Bank of America Corporation decreased their price objective on Terex Corporation from $42.00 to $40.00 and set an “underperform” rating for the company in a report on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Terex Corporation in a report on Wednesday, November 1st. OTR Global downgraded Terex Corporation to a “positive” rating in a report on Wednesday, September 13th. Deutsche Bank AG downgraded Terex Corporation from a “buy” rating to a “hold” rating and reduced their price target for the company from $44.00 to $43.00 in a report on Thursday, September 21st. Finally, Wells Fargo & Company set a $52.00 price target on Terex Corporation and gave the company a “buy” rating in a report on Monday, October 16th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $41.93.
Terex Corporation 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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