Harbour Capital Advisors LLC Raises Stake in Terex Corporation (TEX)

Harbour Capital Advisors LLC boosted 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 fund 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 owned 0.33% of Terex Corporation worth $8,700,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in Terex Corporation by 155.5% in the first quarter. Jennison Associates LLC now owns 480,374 shares of the industrial products company’s stock valued at $15,084,000 after buying an additional 292,359 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Terex Corporation by 32.5% in the first quarter. Canada Pension Plan Investment Board now owns 96,300 shares of the industrial products company’s stock valued at $3,024,000 after buying an additional 23,600 shares in the last quarter. Wells Fargo & Company MN boosted its position in Terex Corporation by 6.5% in the first quarter. Wells Fargo & Company MN now owns 427,548 shares of the industrial products company’s stock valued at $13,425,000 after buying an additional 25,980 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Terex Corporation by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 37,491 shares of the industrial products company’s stock valued at $1,177,000 after buying an additional 500 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position in shares of Terex Corporation by 302.5% in the first quarter. First Mercantile Trust Co. now owns 19,560 shares of the industrial products company’s stock worth $614,000 after buying an additional 14,700 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

Shares of Terex Corporation (TEX) traded up 0.47% during midday trading on Friday, reaching $38.08. The company’s stock had a trading volume of 2,369,051 shares. The company’s market capitalization is $3.40 billion. Terex Corporation has a one year low of $21.88 and a one year high of $40.24. The stock’s 50-day moving average is $38.00 and its 200-day moving average is $33.92.

Terex Corporation (NYSE:TEX) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. On average, equities analysts expect that Terex Corporation will post $1.15 earnings per share for the current fiscal year.

Terex Corporation announced that its board has authorized a share buyback plan on Tuesday, May 30th that allows the company to repurchase $280.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 8.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Monday, August 7th. Terex Corporation’s payout ratio is currently -50.79%.

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A number of brokerages have recently commented on TEX. UBS AG reiterated a “buy” rating and issued a $44.00 target price (up previously from $40.00) on shares of Terex Corporation in a report on Tuesday. BMO Capital Markets reiterated a “hold” rating and issued a $35.00 target price on shares of Terex Corporation in a report on Thursday, July 20th. Zacks Investment Research upgraded Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Thursday, July 13th. TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Finally, Deutsche Bank AG set a $44.00 target price on Terex Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Terex Corporation presently has an average rating of “Hold” and an average price target of $36.63.

In other Terex Corporation news, SVP Kevin Bradley sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $37.30, for a total value of $111,900.00. Following the sale, the senior vice president now directly owns 51,612 shares in the company, valued at $1,925,127.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brian J. Henry sold 7,512 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $33.48, for a total value of $251,501.76. Following the completion of the sale, the senior vice president now owns 322,993 shares in the company, valued at $10,813,805.64. The disclosure for this sale can be found here. Over the last quarter, insiders bought 1,224 shares of company stock worth $44,403 and sold 97,508 shares worth $3,510,771. 2.50% of the stock is currently owned by company insiders.

About Terex Corporation

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.

Institutional Ownership by Quarter for Terex Corporation (NYSE:TEX)

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