Russell Investments Group Ltd. reduced its holdings in Terex Co. (NYSE:TEX) by 42.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 159,568 shares of the industrial products company’s stock after selling 119,115 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.22% of Terex worth $5,008,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in TEX. Geode Capital Management LLC increased its position in Terex by 9.7% in the 4th quarter. Geode Capital Management LLC now owns 661,708 shares of the industrial products company’s stock valued at $18,242,000 after acquiring an additional 58,616 shares during the period. Stevens Capital Management LP acquired a new position in Terex in the 1st quarter valued at approximately $549,000. Stratos Wealth Advisors LLC acquired a new position in Terex in the 1st quarter valued at approximately $254,000. Spark Investment Management LLC acquired a new position in Terex in the 1st quarter valued at approximately $1,902,000. Finally, LSV Asset Management increased its position in Terex by 7.0% in the 1st quarter. LSV Asset Management now owns 1,723,056 shares of the industrial products company’s stock valued at $55,361,000 after acquiring an additional 112,970 shares during the period. Hedge funds and other institutional investors own 88.31% of the company’s stock.
NYSE:TEX traded up $0.73 during trading hours on Friday, reaching $27.65. The company had a trading volume of 859,758 shares, compared to its average volume of 854,870. The company has a quick ratio of 1.43, a current ratio of 2.21 and a debt-to-equity ratio of 1.68. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.92 and a beta of 1.77. The business’s 50-day simple moving average is $26.39 and its two-hundred day simple moving average is $29.99. Terex Co. has a twelve month low of $22.91 and a twelve month high of $42.74.
Terex (NYSE:TEX) last posted its quarterly earnings results on Monday, July 29th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.13). The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.32 billion. Terex had a return on equity of 27.40% and a net margin of 0.29%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. As a group, equities analysts predict that Terex Co. will post 3.58 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Monday, August 12th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, August 9th. Terex’s payout ratio is 16.24%.
TEX has been the subject of several recent analyst reports. BMO Capital Markets decreased their price objective on shares of Terex to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 31st. ValuEngine upgraded shares of Terex from a “strong sell” rating to a “sell” rating in a research report on Friday, August 2nd. Evercore ISI reiterated an “in-line” rating and set a $31.00 price objective (down from $40.00) on shares of Terex in a research report on Friday, May 31st. Barclays reiterated a “hold” rating and set a $33.00 price objective on shares of Terex in a research report on Monday, July 15th. Finally, UBS Group decreased their price objective on shares of Terex from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.33.
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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