Barings LLC Has $433,000 Stake in Terex Corporation (TEX)
Barings LLC continued to hold its position in shares of Terex Corporation (NYSE:TEX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,800 shares of the industrial products company’s stock at the close of the 2nd quarter. Barings LLC’s holdings in Terex Corporation were worth $433,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in Terex Corporation by 9.3% during the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 510 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Terex Corporation by 14.8% during the first quarter. UBS Asset Management Americas Inc. now owns 94,264 shares of the industrial products company’s stock valued at $2,960,000 after purchasing an additional 12,131 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Terex Corporation by 13.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 1,014 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Terex Corporation by 72.4% during the first quarter. Prudential Financial Inc. now owns 105,822 shares of the industrial products company’s stock valued at $3,323,000 after purchasing an additional 44,450 shares in the last quarter. Finally, Credit Agricole S A purchased a new position in Terex Corporation during the first quarter valued at $338,000. Institutional investors own 97.40% of the company’s stock.
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Several equities analysts have issued reports on TEX shares. Zacks Investment Research raised shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Thursday, July 13th. Deutsche Bank AG downgraded shares of Terex Corporation from a “buy” rating to a “hold” rating and decreased their price objective for the company from $44.00 to $43.00 in a report on Thursday, September 21st. OTR Global downgraded shares of Terex Corporation to a “positive” rating in a report on Wednesday, September 13th. Wells Fargo & Company set a $52.00 price objective on shares of Terex Corporation and gave the company a “buy” rating in a report on Monday. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $35.00 price objective on shares of Terex Corporation in a report on Thursday, July 20th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.43.
In other Terex Corporation news, insider Kieran Hegarty sold 15,115 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $43.23, for a total value of $653,421.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Eric I. Cohen sold 10,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the transaction, the vice president now owns 195,980 shares in the company, valued at $8,819,100. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 4,264 shares of company stock worth $165,731 and sold 98,679 shares worth $3,981,710. 2.50% of the stock is currently owned by corporate insiders.
Shares of Terex Corporation (NYSE TEX) opened at 46.03 on Wednesday. Terex Corporation has a 52-week low of $21.88 and a 52-week high of $46.68. The firm’s market capitalization is $4.12 billion. The company’s 50-day moving average is $42.73 and its 200 day moving average is $37.25.
Terex Corporation (NYSE:TEX) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Equities analysts expect that Terex Corporation will post $1.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Thursday, November 9th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.70%. Terex Corporation’s dividend payout ratio (DPR) is -50.79%.
Terex Corporation declared that its Board of Directors has authorized a stock 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 repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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.
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