A.R.T. Advisors LLC lessened its stake in Terex Co. (NYSE:TEX) by 59.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,949 shares of the industrial products company’s stock after selling 50,400 shares during the period. A.R.T. Advisors LLC’s holdings in Terex were worth $1,066,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in TEX. BlackRock Inc. raised its stake in shares of Terex by 22.7% during the 2nd quarter. BlackRock Inc. now owns 7,024,611 shares of the industrial products company’s stock worth $220,572,000 after buying an additional 1,301,760 shares during the period. Pzena Investment Management LLC grew its holdings in shares of Terex by 7.7% during the 2nd quarter. Pzena Investment Management LLC now owns 3,471,316 shares of the industrial products company’s stock worth $108,999,000 after purchasing an additional 248,600 shares during the period. Prudential Financial Inc. grew its holdings in shares of Terex by 311.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,180,690 shares of the industrial products company’s stock worth $37,074,000 after purchasing an additional 893,799 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Terex by 17.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,063,326 shares of the industrial products company’s stock worth $33,388,000 after purchasing an additional 156,095 shares during the period. Finally, Minneapolis Portfolio Management Group LLC grew its holdings in shares of Terex by 12.5% during the 2nd quarter. Minneapolis Portfolio Management Group LLC now owns 764,763 shares of the industrial products company’s stock worth $24,014,000 after purchasing an additional 85,205 shares during the period. Institutional investors and hedge funds own 88.24% of the company’s stock.
TEX has been the subject of a number of research analyst reports. Evercore ISI restated an “in-line” rating and set a $31.00 target price (down from $40.00) on shares of Terex in a report on Friday, May 31st. TheStreet lowered Terex from a “b-” rating to a “c+” rating in a research report on Monday, August 26th. BMO Capital Markets reduced their price target on Terex to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Co reduced their price target on Terex from $35.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, UBS Group cut their target price on Terex from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.08.
Shares of TEX stock opened at $25.48 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.43 and a debt-to-equity ratio of 1.68. Terex Co. has a twelve month low of $22.91 and a twelve month high of $41.36. The company has a market capitalization of $1.85 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.86 and a beta of 1.77. The business’s 50 day moving average is $25.55 and its two-hundred day moving average is $29.49.
Terex (NYSE:TEX) last posted its quarterly earnings results on Monday, July 29th. The industrial products company reported $1.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.13). The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Terex had a net margin of 0.29% and a return on equity of 27.40%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, equities analysts predict that Terex Co. will post 3.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Monday, August 12th were issued a $0.11 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.73%. Terex’s dividend payout ratio (DPR) is 16.24%.
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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