Artemis Investment Management LLP increased its position in shares of Terex Corp. (NYSE:TEX) by 298.5% during the second quarter, Holdings Channel reports. The fund owned 497,184 shares of the company’s stock after buying an additional 372,408 shares during the period. Artemis Investment Management LLP’s holdings in Terex Corp. were worth $10,100,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Mountain Lake Investment Management LLC bought a new stake in Terex Corp. during the first quarter worth $622,000. Springbok Capital Management LLC increased its stake in Terex Corp. by 1,939.5% in the first quarter. Springbok Capital Management LLC now owns 28,553 shares of the company’s stock worth $710,000 after buying an additional 27,153 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Terex Corp. during the first quarter worth $11,101,000. Stanley Capital Management LLC increased its stake in Terex Corp. by 9.7% in the first quarter. Stanley Capital Management LLC now owns 131,324 shares of the company’s stock worth $3,267,000 after buying an additional 11,600 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in Terex Corp. during the first quarter worth $2,503,000. Hedge funds and other institutional investors own 81.01% of the company’s stock.
Shares of Terex Corp. (NYSE:TEX) traded up 1.25% during midday trading on Tuesday, hitting $23.53. The stock had a trading volume of 772,942 shares. The firm’s 50-day moving average price is $24.08 and its 200-day moving average price is $23.18. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 47.63 and a beta of 3.12. Terex Corp. has a 1-year low of $13.62 and a 1-year high of $25.57.
Terex Corp. (NYSE:TEX) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, topping the 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 return on equity of 9.63% and a net margin of 0.92%. Terex Corp.’s revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. Analysts forecast that Terex Corp. will post $0.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Wednesday, August 10th were paid a $0.07 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.28 annualized dividend and a dividend yield of 1.19%. Terex Corp.’s dividend payout ratio (DPR) is 57.14%.
A number of analysts have recently weighed in on the company. Deutsche Bank AG assumed coverage on Terex Corp. in a research report on Tuesday, September 6th. They set a “hold” rating and a $26.00 target price for the company. Jefferies Group downgraded Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Morgan Stanley restated a “hold” rating and set a $21.00 price objective on shares of Terex Corp. in a research report on Friday, September 16th. Zacks Investment Research upgraded Terex Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday, September 12th. Finally, BMO Capital Markets restated a “hold” rating and set a $24.00 price objective on shares of Terex Corp. in a research report on Monday, August 29th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Terex Corp. has a consensus rating of “Hold” and a consensus price target of $23.70.
In other Terex Corp. news, Director G Chris Andersen sold 20,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $24.02, for a total value of $480,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian J. Henry sold 5,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $24.29, for a total value of $121,450.00. Following the completion of the sale, the senior vice president now owns 316,729 shares of the company’s stock, valued at approximately $7,693,347.41. The disclosure for this sale can be found here. 3.70% of the stock is owned by 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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