Ameriprise Financial Inc. decreased its stake in shares of Terex Corp. (NYSE:TEX) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 511,960 shares of the company’s stock after selling 54,362 shares during the period. Ameriprise Financial Inc. owned about 0.47% of Terex Corp. worth $10,397,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Pzena Investment Management LLC increased its stake in Terex Corp. by 49.1% in the second quarter. Pzena Investment Management LLC now owns 7,164,504 shares of the company’s stock valued at $145,511,000 after buying an additional 2,359,735 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Terex Corp. by 13.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,782,261 shares of the company’s stock valued at $36,198,000 after buying an additional 207,429 shares during the last quarter. Geode Capital Management LLC increased its stake in Terex Corp. by 6.2% in the first quarter. Geode Capital Management LLC now owns 669,634 shares of the company’s stock valued at $16,660,000 after buying an additional 38,945 shares during the last quarter. Artemis Investment Management LLP increased its stake in Terex Corp. by 298.5% in the second quarter. Artemis Investment Management LLP now owns 497,184 shares of the company’s stock valued at $10,100,000 after buying an additional 372,408 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in Terex Corp. during the second quarter valued at $9,097,000. Institutional investors and hedge funds own 81.01% of the company’s stock.
Terex Corp. (NYSE:TEX) traded up 4.61% during midday trading on Friday, hitting $25.41. The stock had a trading volume of 1,315,753 shares. Terex Corp. has a 12-month low of $13.62 and a 12-month high of $25.66. The firm has a market cap of $2.76 billion, a P/E ratio of 51.44 and a beta of 3.12. The stock has a 50-day moving average price of $24.14 and a 200 day moving average price of $23.22.
Terex Corp. (NYSE:TEX) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.10. The business earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Terex Corp. had a net margin of 0.92% and a return on equity of 9.63%. The business’s revenue was down 10.1% on a year-over-year basis. During the same period last year, the firm posted $0.78 earnings per share. On average, equities analysts anticipate that Terex Corp. will post $0.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Wednesday, August 10th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, August 8th. Terex Corp.’s dividend payout ratio (DPR) is presently 57.14%.
TEX has been the topic of several research analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $24.00 price objective on shares of Terex Corp. in a report on Monday, August 29th. Morgan Stanley reissued a “hold” rating and issued a $21.00 price objective on shares of Terex Corp. in a report on Friday, September 16th. Jefferies Group cut Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Tuesday, August 9th. They noted that the move was a valuation call. Wells Fargo & Co. reissued a “buy” rating on shares of Terex Corp. in a report on Wednesday, June 22nd. Finally, Zacks Investment Research cut Terex Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. Terex Corp. currently has a consensus rating of “Hold” and a consensus target price of $23.70.
In related news, VP Eric I. Cohen sold 8,258 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $24.29, for a total transaction of $200,586.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian J. Henry sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $24.29, for a total transaction of $121,450.00. Following the sale, the senior vice president now directly owns 316,729 shares of the company’s stock, valued at $7,693,347.41. The disclosure for this sale can be found here. 3.70% of the stock is currently 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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