NorthCrest Asset Manangement LLC acquired a new stake in Terex Co. (NYSE:TEX – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,500 shares of the industrial products company’s stock, valued at approximately $339,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEX. Moors & Cabot Inc. acquired a new position in Terex in the 3rd quarter valued at $26,000. DekaBank Deutsche Girozentrale acquired a new position in Terex in the 4th quarter valued at $31,000. Point72 Hong Kong Ltd acquired a new position in Terex in the 4th quarter valued at $68,000. Whittier Trust Co. acquired a new position in Terex in the 4th quarter valued at $181,000. Finally, AdvisorNet Financial Inc raised its stake in Terex by 28.1% in the 1st quarter. AdvisorNet Financial Inc now owns 5,920 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 1,300 shares during the last quarter. 85.46% of the stock is owned by hedge funds and other institutional investors.
Shares of Terex stock opened at $27.94 on Thursday. The business has a 50-day moving average of $33.08 and a 200 day moving average of $38.05. Terex Co. has a 12 month low of $27.35 and a 12 month high of $53.82. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 0.44 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.00 and a quick ratio of 0.99.
Terex (NYSE:TEX – Get Rating) last announced its earnings results on Thursday, April 28th. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.27. Terex had a return on equity of 21.36% and a net margin of 5.78%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $979.13 million. Equities research analysts anticipate that Terex Co. will post 3.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 21st. Investors of record on Monday, June 6th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Friday, June 3rd. Terex’s dividend payout ratio (DPR) is 15.85%.
A number of analysts have issued reports on TEX shares. Bank of America raised Terex from a “neutral” rating to a “buy” rating and cut their target price for the stock from $41.00 to $38.00 in a research note on Friday, May 13th. Robert W. Baird downgraded Terex from an “outperform” rating to a “neutral” rating and set a $44.00 target price for the company. in a research note on Friday, April 8th. StockNews.com started coverage on Terex in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley cut their target price on Terex from $53.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, April 18th. Finally, Wells Fargo & Company initiated coverage on Terex in a research note on Friday, March 11th. They issued an “overweight” rating and a $64.00 target price for the company. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.17.
In related news, VP Scott Posner sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $33.96, for a total transaction of $67,920.00. Following the completion of the transaction, the vice president now directly owns 64,621 shares in the company, valued at approximately $2,194,529.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.
Terex Profile (Get Rating)
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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