Alliancebernstein L.P. increased its position in shares of Terex Corporation (NYSE:TEX) by 6.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,298,490 shares of the industrial products company’s stock after purchasing an additional 202,899 shares during the quarter. Alliancebernstein L.P. owned approximately 3.45% of Terex Corporation worth $123,693,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of TEX. BlackRock Inc. increased its position in shares of Terex Corporation by 11,851.5% during the first quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock worth $265,310,000 after purchasing an additional 8,378,659 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Terex Corporation by 1,197.3% during the second quarter. JPMorgan Chase & Co. now owns 1,759,927 shares of the industrial products company’s stock worth $65,999,000 after purchasing an additional 1,624,263 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Terex Corporation by 17.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,444,169 shares of the industrial products company’s stock worth $202,346,000 after purchasing an additional 943,237 shares in the last quarter. 1060 Capital LLC purchased a new stake in shares of Terex Corporation during the second quarter worth approximately $25,739,000. Finally, Jennison Associates LLC increased its position in shares of Terex Corporation by 123.1% during the second quarter. Jennison Associates LLC now owns 1,071,708 shares of the industrial products company’s stock worth $40,189,000 after purchasing an additional 591,334 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.
In other news, insider Matthew Fearon sold 13,000 shares of Terex Corporation stock in a transaction on Friday, August 18th. The stock was sold at an average price of $38.00, for a total value of $494,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin Bradley sold 3,000 shares of Terex Corporation stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $37.30, for a total value of $111,900.00. Following the completion of the sale, the senior vice president now directly owns 51,612 shares of the company’s stock, valued at approximately $1,925,127.60. The disclosure for this sale can be found here. In the last ninety days, insiders bought 3,785 shares of company stock valued at $143,509 and sold 60,952 shares valued at $2,342,423. 2.50% of the stock is owned by insiders.
TEX has been the subject of several research reports. Zacks Investment Research upgraded Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Thursday, July 13th. Credit Suisse Group set a $45.00 price target on Terex Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. Wells Fargo & Company reiterated an “outperform” rating and set a $41.00 price target (up from $38.50) on shares of Terex Corporation in a research report on Monday, June 19th. Goldman Sachs Group, Inc. (The) cut Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Thursday, June 15th. Finally, UBS AG reiterated a “buy” rating and set a $44.00 price target (up from $40.00) on shares of Terex Corporation in a research report on Tuesday, August 8th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Terex Corporation has an average rating of “Hold” and an average target price of $36.63.
Terex Corporation (NYSE:TEX) opened at 39.55 on Friday. The firm’s market cap is $3.54 billion. The stock has a 50 day moving average price of $38.51 and a 200 day moving average price of $34.76. Terex Corporation has a 52 week low of $21.88 and a 52 week high of $40.24.
Terex Corporation (NYSE:TEX) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. Equities research analysts expect that Terex Corporation will post $1.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Monday, August 7th. Terex Corporation’s dividend payout ratio is currently -50.79%.
Terex Corporation announced that its Board of Directors has approved a share buyback plan on Tuesday, May 30th that allows the company to repurchase $280.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 8.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Terex Corporation Company Profile
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.
Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Corporation (NYSE:TEX).
Receive News & Ratings for Terex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.