HBK Investments L P acquired a new stake in Terex Co. (NYSE:TEX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 12,800 shares of the industrial products company’s stock, valued at approximately $617,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of TEX. Tower Research Capital LLC TRC increased its holdings in Terex by 388.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 2,028 shares during the period. Landaas & Co. WI ADV increased its holdings in Terex by 602.6% during the 4th quarter. Landaas & Co. WI ADV now owns 3,513 shares of the industrial products company’s stock worth $169,000 after purchasing an additional 3,013 shares during the period. Pacer Advisors Inc. increased its holdings in Terex by 450.2% during the 3rd quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 3,638 shares during the period. Investors Research Corp purchased a new stake in Terex during the 4th quarter worth about $203,000. Finally, Invictus RG increased its holdings in Terex by 95.4% during the 3rd quarter. Invictus RG now owns 4,618 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 2,255 shares during the period. Institutional investors own 97.80% of the company’s stock.
Several brokerages have weighed in on TEX. Robert W. Baird restated a “buy” rating and set a $52.00 price target on shares of Terex in a report on Thursday, December 21st. Zacks Investment Research downgraded Terex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 20th. Barclays began coverage on Terex in a report on Tuesday, December 12th. They set an “equal weight” rating and a $50.00 price target on the stock. OTR Global upgraded Terex to a “positive” rating in a report on Tuesday, December 5th. Finally, ValuEngine downgraded Terex from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.27.
Terex (NYSE:TEX) last released its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The business 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%. equities research analysts predict that Terex Co. will post 2.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Friday, March 9th were given a dividend of $0.10 per share. This is a boost from Terex’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Thursday, March 8th. Terex’s dividend payout ratio is currently 29.63%.
Terex announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 7th that permits the company to repurchase $325.00 million in shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Matthew Fearon sold 30,306 shares of the company’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $39.48, for a total value of $1,196,480.88. Following the completion of the sale, the insider now directly owns 114,664 shares of the company’s stock, valued at approximately $4,526,934.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Eric I. Cohen sold 10,121 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $49.90, for a total value of $505,037.90. Following the completion of the sale, the vice president now directly owns 185,897 shares of the company’s stock, valued at $9,276,260.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 1,044 shares of company stock valued at $44,621 and have sold 49,411 shares valued at $2,090,346. Corporate insiders own 2.50% of the company’s stock.
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.
Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Co. (NYSE:TEX).
Receive News & Ratings for Terex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex and related companies with MarketBeat.com's FREE daily email newsletter.