UBS Asset Management Americas Inc. boosted its position in shares of Terex Corp. (NYSE:TEX) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 107,961 shares of the company’s stock after buying an additional 1,117 shares during the period. UBS Asset Management Americas Inc. owned 0.10% of Terex Corp. worth $2,192,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in Terex Corp. by 55.1% in the first quarter. Franklin Resources Inc. now owns 287,000 shares of the company’s stock worth $7,141,000 after buying an additional 102,000 shares in the last quarter. BlackRock Inc. raised its stake in Terex Corp. by 9.6% in the first quarter. BlackRock Inc. now owns 49,600 shares of the company’s stock worth $1,234,000 after buying an additional 4,347 shares in the last quarter. BlackRock Group LTD raised its stake in Terex Corp. by 31.0% in the first quarter. BlackRock Group LTD now owns 85,515 shares of the company’s stock worth $2,126,000 after buying an additional 20,240 shares in the last quarter. Landscape Capital Management L.L.C. raised its stake in Terex Corp. by 31.7% in the first quarter. Landscape Capital Management L.L.C. now owns 49,100 shares of the company’s stock worth $1,222,000 after buying an additional 11,821 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in Terex Corp. by 121.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 202,400 shares of the company’s stock worth $5,036,000 after buying an additional 111,200 shares in the last quarter. Institutional investors and hedge funds own 81.01% of the company’s stock.
Terex Corp. (NYSE:TEX) traded down 1.93% during trading on Friday, hitting $24.42. The stock had a trading volume of 941,317 shares. The stock has a 50 day moving average price of $24.26 and a 200 day moving average price of $23.24. Terex Corp. has a 12-month low of $13.62 and a 12-month high of $25.66. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 49.43 and a beta of 2.93.
Terex Corp. (NYSE:TEX) last announced its earnings results on Tuesday, August 2nd. The company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.10. The firm earned $1.30 billion during the quarter, compared to analyst estimates of $1.61 billion. Terex Corp. had a net margin of 0.92% and a return on equity of 9.63%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. Equities research analysts forecast that Terex Corp. will post $0.96 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Wednesday, August 10th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Monday, August 8th. Terex Corp.’s payout ratio is presently 57.14%.
A number of equities research analysts have recently issued reports on TEX shares. Wells Fargo & Co. restated a “buy” rating on shares of Terex Corp. in a report on Wednesday, June 22nd. Zacks Investment Research upgraded shares of Terex Corp. from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, June 28th. Bank of America Corp. restated an “underperform” rating on shares of Terex Corp. in a report on Thursday, July 7th. Barclays PLC dropped their price target on shares of Terex Corp. from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, July 11th. Finally, Stifel Nicolaus set a $29.00 price objective on Terex Corp. and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.09.
In other news, insider Kevin A. Barr sold 10,000 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $23.75, for a total transaction of $237,500.00. Following the completion of the transaction, the insider now directly owns 153,788 shares in the company, valued at approximately $3,652,465. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Eric I. Cohen sold 8,258 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $24.29, for a total transaction of $200,586.82. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.
About Terex Corp.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
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