Ameritas Investment Partners Inc. trimmed its stake in Terex Corporation (NYSE:TEX) by 7.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,818 shares of the industrial products company’s stock after selling 2,400 shares during the period. Ameritas Investment Partners Inc.’s holdings in Terex Corporation were worth $1,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Caxton Associates LP boosted its position in Terex Corporation by 66.7% in the 2nd quarter. Caxton Associates LP now owns 150,000 shares of the industrial products company’s stock valued at $5,625,000 after buying an additional 60,000 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in Terex Corporation in the 2nd quarter valued at about $2,872,000. Gotham Asset Management LLC boosted its position in Terex Corporation by 30.9% in the 2nd quarter. Gotham Asset Management LLC now owns 459,144 shares of the industrial products company’s stock valued at $17,218,000 after buying an additional 108,486 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in Terex Corporation by 18.7% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 382,332 shares of the industrial products company’s stock valued at $14,336,000 after buying an additional 60,317 shares during the period. Finally, Clear Perspective Advisors LLC purchased a new stake in Terex Corporation in the 2nd quarter valued at about $198,000. 97.40% of the stock is owned by institutional investors.
In other news, Director David A. Sachs acquired 3,000 shares of the company’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $37.97 per share, with a total value of $113,910.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kevin A. Barr sold 15,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.92, for a total transaction of $583,800.00. Following the completion of the transaction, the insider now directly owns 143,304 shares in the company, valued at $5,577,391.68. The disclosure for this sale can be found here. Over the last three months, insiders acquired 4,264 shares of company stock worth $165,731 and sold 98,679 shares worth $3,981,710. Insiders own 2.50% of the company’s stock.
Several equities research analysts have issued reports on the stock. BMO Capital Markets reissued a “hold” rating and issued a $35.00 price objective on shares of Terex Corporation in a research report on Thursday, July 20th. Deutsche Bank AG set a $44.00 price target on shares of Terex Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. UBS AG reaffirmed a “buy” rating and issued a $44.00 price target (up previously from $40.00) on shares of Terex Corporation in a research report on Wednesday, August 2nd. TheStreet raised shares of Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $38.00 price target on shares of Terex Corporation in a research report on Wednesday, September 13th. Four analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.43.
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Shares of Terex Corporation (TEX) opened at 46.11 on Thursday. The firm’s market cap is $4.12 billion. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $46.68. The stock has a 50 day moving average of $43.29 and a 200-day moving average of $37.53.
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 company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. Terex Corporation’s revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. Equities analysts anticipate that Terex Corporation will post $1.15 EPS for the current fiscal year.
Terex Corporation declared that its board has authorized a share buyback program on Wednesday, September 6th that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Thursday, November 9th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.69%. Terex Corporation’s dividend payout ratio is currently -50.79%.
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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