Harbour Capital Advisors LLC increased its stake in shares of Terex Corporation (NYSE:TEX) by 3,617.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 326,250 shares of the industrial products company’s stock after buying an additional 317,475 shares during the period. Harbour Capital Advisors LLC’s holdings in Terex Corporation were worth $8,700,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TEX. M&T Bank Corp boosted its position in shares of Terex Corporation by 1.5% in the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock valued at $279,000 after buying an additional 130 shares in the last quarter. Columbus Circle Investors acquired a new stake in Terex Corporation during the first quarter worth approximately $27,629,000. Thrivent Financial For Lutherans boosted its stake in Terex Corporation by 8.3% in the first quarter. Thrivent Financial For Lutherans now owns 19,920 shares of the industrial products company’s stock worth $625,000 after buying an additional 1,520 shares during the period. Schneider Capital Management Corp boosted its stake in Terex Corporation by 0.7% in the first quarter. Schneider Capital Management Corp now owns 720,711 shares of the industrial products company’s stock worth $22,630,000 after buying an additional 5,000 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Terex Corporation by 13.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the industrial products company’s stock worth $267,000 after buying an additional 1,014 shares during the period. Institutional investors own 90.89% of the company’s stock.
Terex Corporation (NYSE:TEX) opened at 38.89 on Wednesday. The stock has a 50 day moving average price of $37.34 and a 200 day moving average price of $33.55. The firm’s market cap is $3.80 billion. Terex Corporation has a 52 week low of $21.88 and a 52 week high of $39.90.
Terex Corporation (NYSE:TEX) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.09. Terex Corporation had a positive return on equity of 5.90% and a negative net margin of 2.53%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s revenue was down 8.9% on a year-over-year basis. Equities research analysts expect that Terex Corporation will post $0.99 EPS for the current year.
Terex Corporation announced that its board has initiated a stock repurchase program on Tuesday, May 30th that allows the company to buyback $280.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy up to 8.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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 issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Monday, August 7th. Terex Corporation’s dividend payout ratio (DPR) is -29.63%.
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Several brokerages recently commented on TEX. Seaport Global Securities boosted their price target on Terex Corporation from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, May 4th. BMO Capital Markets reissued a “hold” rating and set a $35.00 price objective on shares of Terex Corporation in a research note on Thursday, July 20th. BidaskClub raised Terex Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Royal Bank Of Canada reissued a “hold” rating and set a $33.00 price objective on shares of Terex Corporation in a research note on Monday, June 5th. Finally, J P Morgan Chase & Co raised Terex Corporation from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $30.00 to $47.00 in a research note on Tuesday, April 25th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $35.29.
In other news, SVP Brian J. Henry sold 7,512 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $33.48, for a total transaction of $251,501.76. Following the sale, the senior vice president now owns 322,993 shares in the company, valued at $10,813,805.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin Bradley sold 20,000 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $32.56, for a total value of $651,200.00. Following the sale, the senior vice president now owns 79,612 shares in the company, valued at approximately $2,592,166.72. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 1,301 shares of company stock worth $44,893 and have sold 78,903 shares worth $2,746,667. 2.50% of the stock is owned by company insiders.
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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