Nationwide Fund Advisors boosted its position in Terex Corp. (NYSE:TEX) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,873 shares of the company’s stock after buying an additional 5,829 shares during the period. Nationwide Fund Advisors owned about 0.17% of Terex Corp. worth $3,816,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mountain Lake Investment Management LLC purchased a new position in shares of Terex Corp. during the first quarter worth about $622,000. Springbok Capital Management LLC increased its position in shares of 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 period. Renaissance Technologies LLC purchased a new position in shares of Terex Corp. during the first quarter worth about $11,101,000. Stanley Capital Management LLC increased its position in shares of 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 period. Finally, Kennedy Capital Management Inc. purchased a new position in shares of Terex Corp. during the first quarter worth about $2,503,000. Hedge funds and other institutional investors own 81.01% of the company’s stock.
Terex Corp. (NYSE:TEX) traded down 0.24% during mid-day trading on Tuesday, hitting $24.93. 183,373 shares of the stock traded hands. Terex Corp. has a 52-week low of $13.62 and a 52-week high of $25.66. The firm’s 50-day moving average is $24.18 and its 200 day moving average is $23.22. The firm has a market cap of $2.71 billion, a P/E ratio of 50.47 and a beta of 2.93.
Terex Corp. (NYSE:TEX) last released 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. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The company earned $1.30 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company earned $0.78 EPS. Terex Corp.’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities analysts predict that Terex Corp. will post $0.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Wednesday, August 10th were issued a $0.07 dividend. The ex-dividend date was Monday, August 8th. This represents a $0.28 annualized dividend and a yield of 1.12%. Terex Corp.’s payout ratio is 57.14%.
A number of brokerages have recently issued reports on TEX. Deutsche Bank AG began coverage on shares of Terex Corp. in a research report on Tuesday, September 6th. They issued a “hold” rating and a $26.00 price target on the stock. Jefferies Group downgraded shares of Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Morgan Stanley restated a “hold” rating and issued a $21.00 price target on shares of Terex Corp. in a research report on Friday, September 16th. Credit Agricole SA assumed coverage on shares of Terex Corp. in a research note on Friday. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Terex Corp. from a “strong sell” rating to a “hold” rating in a research note on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $24.09.
In related news, Director G Chris Andersen sold 20,000 shares of Terex Corp. stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $24.02, for a total value of $480,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin A. Barr sold 10,000 shares of Terex Corp. stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $23.75, for a total value of $237,500.00. Following the completion of the sale, the insider now owns 153,788 shares of the company’s stock, valued at $3,652,465. The disclosure for this sale can be found here. 3.70% of the stock is 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.
Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Corp. (NYSE:TEX).
Receive News & Ratings for Terex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.