ProShare Advisors LLC reduced its stake in Terex Co. (NYSE:TEX – Free Report) by 6.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 11,864 shares of the industrial products company’s stock after selling 873 shares during the period. ProShare Advisors LLC’s holdings in Terex were worth $574,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in shares of Terex during the first quarter valued at about $26,000. Tucker Asset Management LLC purchased a new stake in shares of Terex during the first quarter valued at approximately $27,000. Parkside Financial Bank & Trust boosted its stake in shares of Terex by 87.5% during the first quarter. Parkside Financial Bank & Trust now owns 930 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 434 shares during the period. Money Concepts Capital Corp purchased a new stake in shares of Terex during the fourth quarter valued at approximately $47,000. Finally, Johnson Midwest Financial LLC purchased a new stake in shares of Terex during the first quarter valued at approximately $57,000. 93.39% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on TEX shares. KeyCorp increased their price objective on Terex from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. StockNews.com began coverage on Terex in a research note on Thursday, August 17th. They issued a “buy” rating for the company. The Goldman Sachs Group raised their price target on Terex from $53.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Wells Fargo & Company raised their price target on Terex from $66.00 to $74.00 in a research note on Thursday, August 3rd. Finally, Raymond James assumed coverage on Terex in a research report on Thursday, July 6th. They set a “market perform” rating for the company. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Terex currently has a consensus rating of “Hold” and a consensus target price of $61.58.
Insider Activity at Terex
In related news, CEO John L. Garrison, Jr. sold 9,966 shares of the firm’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $60.00, for a total transaction of $597,960.00. Following the sale, the chief executive officer now directly owns 535,331 shares of the company’s stock, valued at $32,119,860. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
Terex Stock Performance
NYSE TEX opened at $59.61 on Friday. The company has a market cap of $4.02 billion, a P/E ratio of 9.14, a P/E/G ratio of 0.47 and a beta of 1.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 2.07. The business’s 50 day moving average price is $60.18 and its 200-day moving average price is $53.91. Terex Co. has a fifty-two week low of $28.82 and a fifty-two week high of $65.64.
Terex (NYSE:TEX – Get Free Report) last released its earnings results on Tuesday, August 1st. The industrial products company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.69. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.27 billion. Terex had a return on equity of 35.91% and a net margin of 8.96%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. Sell-side analysts predict that Terex Co. will post 7.09 earnings per share for the current year.
Terex Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, August 14th will be given a dividend of $0.17 per share. This is a positive change from Terex’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, August 11th. Terex’s dividend payout ratio is currently 10.43%.
Terex Company Profile
Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.
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