ING Groep NV maintained its stake in Terex Corp. (NYSE:TEX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,000 shares of the company’s stock at the end of the second quarter. ING Groep NV’s holdings in Terex Corp. were worth $467,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. LS Investment Advisors LLC increased its stake in Terex Corp. by 70.2% in the second quarter. LS Investment Advisors LLC now owns 6,648 shares of the company’s stock worth $135,000 after buying an additional 2,743 shares during the period. Creative Planning increased its stake in Terex Corp. by 13.2% in the second quarter. Creative Planning now owns 8,600 shares of the company’s stock worth $175,000 after buying an additional 1,000 shares during the period. IBM Retirement Fund increased its stake in Terex Corp. by 1.1% in the second quarter. IBM Retirement Fund now owns 10,682 shares of the company’s stock worth $217,000 after buying an additional 113 shares during the period. Concorde Asset Management LLC increased its stake in Terex Corp. by 4.4% in the second quarter. Concorde Asset Management LLC now owns 16,675 shares of the company’s stock worth $339,000 after buying an additional 700 shares during the period. Finally, Seven Eight Capital LLC purchased a new stake in Terex Corp. during the first quarter worth approximately $443,000. 81.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Terex Corp. (NYSE:TEX) traded up 1.11% during mid-day trading on Monday, reaching $24.69. The company’s stock had a trading volume of 623,145 shares. The company’s 50-day moving average is $24.26 and its 200 day moving average is $23.24. Terex Corp. has a 1-year low of $13.62 and a 1-year high of $25.66. The firm has a market capitalization of $2.68 billion, a P/E ratio of 49.98 and a beta of 2.93.
Terex Corp. (NYSE:TEX) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.54 by $0.10. The business earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. On average, analysts expect that Terex Corp. will post $0.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Wednesday, August 10th were issued a $0.07 dividend. The ex-dividend date was Monday, August 8th. This represents a $0.28 annualized dividend and a dividend yield of 1.13%. Terex Corp.’s dividend payout ratio is currently 57.14%.
A number of brokerages have issued reports on TEX. Barclays PLC decreased their price target on Terex Corp. from $25.00 to $20.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Bank of America Corp. reissued an “underperform” rating on shares of Terex Corp. in a report on Thursday, July 7th. Zacks Investment Research raised Terex Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, September 12th. Stifel Nicolaus set a $29.00 price target on Terex Corp. and gave the company a “buy” rating in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $20.00 price target on Terex Corp. and gave the company a “hold” rating in a report on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $24.09.
In other news, insider Steve Filipov sold 8,929 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $24.20, for a total value of $216,081.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director G Chris Andersen sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $24.02, for a total value of $480,400.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.
About Terex Corp.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
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