Sei Investments Co. lifted its holdings in shares of Terex Co. (NYSE:TEX) by 1,106.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,274 shares of the industrial products company’s stock after acquiring an additional 70,868 shares during the quarter. Sei Investments Co. owned 0.10% of Terex worth $2,890,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of TEX. Tower Research Capital LLC TRC grew its holdings in Terex by 388.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 2,028 shares during the period. Investors Research Corp bought a new position in Terex during the fourth quarter valued at $203,000. LPL Financial LLC bought a new position in Terex during the fourth quarter valued at $211,000. DekaBank Deutsche Girozentrale bought a new position in Terex during the first quarter valued at $184,000. Finally, Stone Ridge Asset Management LLC bought a new position in Terex during the fourth quarter valued at $260,000. 98.23% of the stock is owned by institutional investors.
Several brokerages have weighed in on TEX. Jefferies Financial Group raised Terex from a “hold” rating to a “buy” rating in a report on Thursday. Evercore ISI raised Terex from an “in-line” rating to an “outperform” rating in a report on Monday, May 7th. BMO Capital Markets reissued a “hold” rating and set a $46.00 price objective on shares of Terex in a report on Wednesday, April 18th. ValuEngine lowered Terex from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Morgan Stanley increased their price objective on Terex from $45.00 to $46.00 and gave the company a “hold” rating in a report on Thursday, May 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.23.
In related news, VP Mark I. Clair sold 11,737 shares of Terex stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $38.33, for a total transaction of $449,879.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian J. Henry sold 5,000 shares of Terex stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $42.98, for a total value of $214,900.00. Following the sale, the senior vice president now directly owns 330,157 shares of the company’s stock, valued at approximately $14,190,147.86. The disclosure for this sale can be found here. Insiders bought 4,843 shares of company stock valued at $182,100 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.
Terex stock opened at $39.76 on Friday. Terex Co. has a one year low of $34.21 and a one year high of $50.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.26 and a quick ratio of 1.29. The firm has a market capitalization of $3.02 billion, a PE ratio of 29.45, a P/E/G ratio of 0.65 and a beta of 1.79.
Terex (NYSE:TEX) last posted its quarterly earnings results on Tuesday, May 1st. The industrial products company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.19. Terex had a return on equity of 12.83% and a net margin of 3.98%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. analysts anticipate that Terex Co. will post 2.9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 19th. Stockholders of record on Friday, June 8th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, June 7th. Terex’s payout ratio is currently 29.63%.
Terex Company Profile
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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