Crossmark Global Holdings Inc. purchased a new position in Terex Corporation (NYSE:TEX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,048 shares of the industrial products company’s stock, valued at approximately $677,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sei Investments Co. grew its position in Terex Corporation by 19.5% in the 2nd quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 619 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Terex Corporation by 7.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 403 shares in the last quarter. Clear Perspective Advisors LLC acquired a new stake in shares of Terex Corporation during the 2nd quarter valued at about $198,000. National Planning Corp acquired a new stake in shares of Terex Corporation during the 2nd quarter valued at about $209,000. Finally, CIBC World Markets Inc. acquired a new stake in shares of Terex Corporation during the 2nd quarter valued at about $210,000. Institutional investors own 89.20% of the company’s stock.
Shares of Terex Corporation (NYSE:TEX) opened at $42.55 on Thursday. Terex Corporation has a 1 year low of $27.77 and a 1 year high of $48.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.53 and a current ratio of 2.42. The company has a market cap of $3,602.84, a P/E ratio of 37.91, a PEG ratio of 2.96 and a beta of 1.89.
Terex Corporation (NYSE:TEX) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.14. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Terex Corporation had a negative net margin of 2.62% and a positive return on equity of 7.01%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 earnings per share. research analysts expect that Terex Corporation will post 1.29 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Thursday, November 9th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Wednesday, November 8th. Terex Corporation’s dividend payout ratio is currently -37.21%.
Terex Corporation announced that its Board of Directors has approved a share buyback program on Wednesday, September 6th that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, VP Eric I. Cohen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the transaction, the vice president now owns 195,980 shares in the company, valued at $8,819,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Sachs purchased 3,000 shares of Terex Corporation stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $37.97 per share, with a total value of $113,910.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 4,204 shares of company stock valued at $165,715 and have sold 64,723 shares valued at $2,665,476. 2.50% of the stock is currently owned by insiders.
Several analysts have recently weighed in on TEX shares. BMO Capital Markets reiterated a “hold” rating and set a $35.00 target price on shares of Terex Corporation in a research report on Thursday, July 20th. Wells Fargo & Company set a $52.00 target price on shares of Terex Corporation and gave the company a “buy” rating in a research report on Monday, October 16th. OTR Global lowered shares of Terex Corporation to a “positive” rating in a research report on Wednesday, September 13th. UBS AG set a $52.00 target price on shares of Terex Corporation and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, Citigroup Inc. lifted their target price on shares of Terex Corporation from $39.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.93.
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.
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