Terex Corporation (NYSE:TEX) Stock Holdings Lifted by M&T Bank Corp

M&T Bank Corp grew its stake in shares of Terex Corporation (NYSE:TEX) by 22.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,272 shares of the industrial products company’s stock after buying an additional 1,349 shares during the quarter. M&T Bank Corp’s holdings in Terex were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Fifth Third Bancorp grew its position in Terex by 88.1% in the first quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 424 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Terex by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 227,876 shares of the industrial products company’s stock valued at $8,609,000 after purchasing an additional 3,525 shares during the last quarter. Private Trust Co. NA boosted its stake in Terex by 128.0% during the 1st quarter. Private Trust Co. NA now owns 773 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 434 shares during the last quarter. Norges Bank bought a new stake in shares of Terex during the fourth quarter worth $35,001,000. Finally, GAMMA Investing LLC raised its holdings in shares of Terex by 65.3% in the first quarter. GAMMA Investing LLC now owns 1,309 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 517 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TEX shares. Baird R W raised shares of Terex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. UBS Group increased their price target on Terex from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 10th. Wall Street Zen raised Terex from a “sell” rating to a “hold” rating in a report on Wednesday, May 21st. Morgan Stanley dropped their price target on Terex from $43.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, Evercore ISI lifted their price target on Terex from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.44.

Insider Activity

In related news, insider Joshua Gross sold 5,389 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $40.75, for a total value of $219,601.75. Following the completion of the sale, the insider owned 38,755 shares in the company, valued at approximately $1,579,266.25. This represents a 12.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Terex Stock Performance

NYSE:TEX opened at $50.58 on Friday. The business’s fifty day moving average price is $47.29 and its 200 day moving average price is $43.39. The firm has a market capitalization of $3.35 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 5.17 and a beta of 1.58. Terex Corporation has a 12 month low of $31.53 and a 12 month high of $68.08. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.11 and a quick ratio of 1.07.

Terex (NYSE:TEX) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.26. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.26 billion. Terex had a net margin of 4.89% and a return on equity of 18.79%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.60 EPS. On average, sell-side analysts anticipate that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 11th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.34%. Terex’s dividend payout ratio (DPR) is 18.53%.

Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.