Systematic Financial Management LP raised its stake in Terex Co. (NYSE:TEX) by 25.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,184,817 shares of the industrial products company’s stock after purchasing an additional 238,302 shares during the period. Terex accounts for approximately 1.1% of Systematic Financial Management LP’s investment portfolio, making the stock its 8th largest holding. Systematic Financial Management LP owned about 1.41% of Terex worth $57,132,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Prudential Financial Inc. grew its stake in shares of Terex by 208.0% during the third quarter. Prudential Financial Inc. now owns 835,582 shares of the industrial products company’s stock worth $37,618,000 after acquiring an additional 564,300 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Terex by 27.4% during the third quarter. JPMorgan Chase & Co. now owns 2,241,830 shares of the industrial products company’s stock worth $100,591,000 after acquiring an additional 481,903 shares during the last quarter. Sadoff Investment Management LLC purchased a new stake in shares of Terex during the fourth quarter worth about $21,687,000. Assenagon Asset Management S.A. purchased a new stake in shares of Terex during the third quarter worth about $15,705,000. Finally, Boston Advisors LLC purchased a new stake in shares of Terex during the fourth quarter worth about $11,255,000. Institutional investors own 94.09% of the company’s stock.
In related news, VP Mark I. Clair sold 3,014 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $45.53, for a total value of $137,227.42. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Eric I. Cohen sold 10,121 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $49.90, for a total value of $505,037.90. Following the completion of the sale, the vice president now owns 185,897 shares in the company, valued at approximately $9,276,260.30. The disclosure for this sale can be found here. In the last quarter, insiders purchased 987 shares of company stock worth $44,638. 2.50% of the stock is owned by insiders.
A number of equities research analysts have recently weighed in on TEX shares. OTR Global upgraded Terex to a “positive” rating in a research note on Tuesday, December 5th. Zacks Investment Research lowered Terex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Robert W. Baird restated a “buy” rating and set a $52.00 price target on shares of Terex in a research note on Thursday, December 21st. Barclays started coverage on Terex in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $50.00 price target on the stock. Finally, KeyCorp restated a “hold” rating on shares of Terex in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Terex has a consensus rating of “Hold” and an average target price of $46.07.
Shares of Terex Co. (TEX) opened at $41.03 on Monday. The company has a market capitalization of $3,323.43, a P/E ratio of 29.52, a P/E/G ratio of 0.99 and a beta of 1.71. Terex Co. has a 52-week low of $28.67 and a 52-week high of $50.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.30 and a quick ratio of 1.53.
Terex (NYSE:TEX) last issued its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.08. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $999.18 million. Terex had a return on equity of 8.80% and a net margin of 2.95%. equities analysts expect that Terex Co. will post 2.56 EPS for the current year.
Terex declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 7th that authorizes the company to repurchase $325.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. This is a positive change from Terex’s previous quarterly dividend of $0.08. Terex’s dividend payout ratio is currently 23.70%.
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Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.
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