Suntrust Banks Inc. acquired a new stake in Terex Co. (NYSE:TEX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 7,034 shares of the industrial products company’s stock, valued at approximately $339,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. TCW Group Inc. boosted its stake in shares of Terex by 0.8% in the 3rd quarter. TCW Group Inc. now owns 2,835,710 shares of the industrial products company’s stock valued at $127,664,000 after buying an additional 23,301 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Terex by 27.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,241,830 shares of the industrial products company’s stock valued at $100,591,000 after buying an additional 481,903 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Terex by 0.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,332,911 shares of the industrial products company’s stock valued at $60,008,000 after buying an additional 9,902 shares during the period. Systematic Financial Management LP boosted its stake in shares of Terex by 25.2% in the 4th quarter. Systematic Financial Management LP now owns 1,184,817 shares of the industrial products company’s stock valued at $57,132,000 after buying an additional 238,302 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Terex by 208.0% in the 3rd quarter. Prudential Financial Inc. now owns 835,582 shares of the industrial products company’s stock valued at $37,618,000 after buying an additional 564,300 shares during the period. Institutional investors and hedge funds own 96.61% of the company’s stock.
Several equities analysts have recently issued reports on TEX shares. ValuEngine cut Terex from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. OTR Global upgraded Terex to a “positive” rating in a research note on Tuesday, December 5th. Barclays started coverage on Terex in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $50.00 price objective for the company. Zacks Investment Research cut Terex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Robert W. Baird restated a “buy” rating and set a $52.00 target price on shares of Terex in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Terex has an average rating of “Hold” and an average price target of $45.27.
Shares of Terex Co. (NYSE TEX) opened at $41.06 on Friday. The firm has a market capitalization of $3,450.00, a P/E ratio of 32.59, a P/E/G ratio of 0.96 and a beta of 1.76. Terex Co. has a 52 week low of $28.67 and a 52 week high of $50.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.36 and a current ratio of 2.30.
Terex (NYSE:TEX) last posted its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.08. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $999.18 million. Terex had a return on equity of 8.80% and a net margin of 2.95%. analysts forecast that Terex Co. will post 2.51 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, March 9th will be given a dividend of $0.10 per share. This is a positive change from Terex’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, March 8th. This represents a $0.40 annualized dividend and a yield of 0.97%. Terex’s payout ratio is 25.40%.
Terex declared that its board has approved a stock repurchase program on Wednesday, February 7th that permits the company to buyback $325.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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