Raymond James Financial Services Advisors Inc. grew its position in Terex (NYSE:TEX) by 54.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,247 shares of the industrial products company’s stock after acquiring an additional 4,655 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Terex were worth $639,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System grew its holdings in Terex by 19.4% during the 4th quarter. Arizona State Retirement System now owns 57,499 shares of the industrial products company’s stock worth $2,773,000 after acquiring an additional 9,339 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Terex by 6.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 132,538 shares of the industrial products company’s stock valued at $6,390,000 after buying an additional 7,530 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Terex during the fourth quarter valued at about $1,345,000. New Mexico Educational Retirement Board purchased a new stake in shares of Terex during the fourth quarter valued at about $955,000. Finally, Balter Liquid Alternatives LLC purchased a new stake in shares of Terex during the fourth quarter valued at about $400,000. Hedge funds and other institutional investors own 97.80% of the company’s stock.
Shares of TEX opened at $36.11 on Friday. The stock has a market capitalization of $2,994.57, a P/E ratio of 26.75, a P/E/G ratio of 0.91 and a beta of 1.80. Terex has a 12-month low of $30.89 and a 12-month high of $50.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.36 and a current ratio of 2.30.
Terex (NYSE:TEX) last issued its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the 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 net margin of 2.95% and a return on equity of 8.80%. analysts expect that Terex will post 2.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 19th. Shareholders of record on Friday, March 9th were given a $0.10 dividend. This is an increase from Terex’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, March 8th. Terex’s payout ratio is currently 29.63%.
Terex declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 7th that allows the company to repurchase $325.00 million in shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
TEX has been the subject of a number of recent research reports. Barclays began coverage on shares of Terex in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $50.00 price target for the company. Zacks Investment Research cut shares of Terex from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Morgan Stanley began coverage on shares of Terex in a research note on Friday, March 2nd. They set an “equal weight” rating and a $45.00 price objective on the stock. Credit Suisse Group dropped their price objective on shares of Terex from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Finally, Robert W. Baird cut shares of Terex from an “outperform” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $45.27.
In related news, Director David A. Sachs acquired 6,500 shares of the stock in a transaction dated Friday, March 23rd. The stock was acquired at an average cost of $36.59 per share, with a total value of $237,835.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eric I. Cohen sold 10,121 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $49.90, for a total value of $505,037.90. Following the transaction, the vice president now directly owns 185,897 shares of the company’s stock, valued at $9,276,260.30. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 10,990 shares of company stock valued at $409,423 and sold 49,411 shares valued at $2,090,346. Insiders own 2.50% of the company’s stock.
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Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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