Terex Corporation (TEX) Stake Maintained by Fishman Jay A Ltd. MI
Fishman Jay A Ltd. MI maintained its position in shares of Terex Corporation (NYSE:TEX) during the second quarter, Holdings Channel reports. The institutional investor owned 7,200 shares of the industrial products company’s stock at the end of the second quarter. Fishman Jay A Ltd. MI’s holdings in Terex Corporation were worth $270,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TEX. Sei Investments Co. boosted its position in shares of Terex Corporation by 19.5% in the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock valued at $142,000 after buying an additional 619 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock valued at $175,000 after buying an additional 403 shares during the last quarter. National Planning Corp purchased a new position in shares of Terex Corporation during the second quarter valued at approximately $209,000. US Bancorp DE boosted its position in shares of Terex Corporation by 9.3% in the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock valued at $188,000 after buying an additional 510 shares during the last quarter. Finally, New England Research & Management Inc. purchased a new position in shares of Terex Corporation during the second quarter valued at approximately $274,000. Institutional investors own 99.28% of the company’s stock.
Shares of Terex Corporation (NYSE TEX) opened at 39.16 on Tuesday. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $40.24. The firm has a 50-day moving average of $38.11 and a 200-day moving average of $33.98. The firm’s market capitalization is $3.50 billion.
Terex Corporation (NYSE:TEX) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The business’s revenue was down 8.9% on a year-over-year basis. On average, equities research analysts anticipate that Terex Corporation will post $1.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Monday, August 7th. Terex Corporation’s dividend payout ratio (DPR) is currently -50.79%.
Terex Corporation announced that its board has approved a stock repurchase plan on Tuesday, May 30th that authorizes the company to repurchase $280.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 8.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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Several brokerages have commented on TEX. UBS AG reiterated a “buy” rating and issued a $44.00 target price (up from $40.00) on shares of Terex Corporation in a report on Tuesday, August 8th. Deutsche Bank AG set a $44.00 target price on shares of Terex Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. TheStreet upgraded shares of Terex Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Thursday, July 13th. Finally, J P Morgan Chase & Co upgraded shares of Terex Corporation from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $30.00 to $47.00 in a report on Tuesday, April 25th. 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 issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.63.
In other news, insider Kevin A. Barr sold 11,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $38.63, for a total value of $424,930.00. Following the completion of the sale, the insider now owns 127,653 shares of the company’s stock, valued at approximately $4,931,235.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eric I. Cohen sold 10,000 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $36.42, for a total value of $364,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 1,224 shares of company stock valued at $44,403 and have sold 97,508 shares valued at $3,510,771. Corporate insiders own 2.50% of the company’s stock.
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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