Psagot Investment House Ltd. acquired a new position in Terex Co. (NYSE:TEX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,000 shares of the industrial products company’s stock, valued at approximately $571,000.
A number of other hedge funds have also recently modified their holdings of the business. First Trust Advisors LP grew its position in shares of Terex by 222.7% during the 1st quarter. First Trust Advisors LP now owns 67,715 shares of the industrial products company’s stock valued at $2,176,000 after acquiring an additional 46,730 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Terex by 31.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 161,432 shares of the industrial products company’s stock valued at $7,438,000 after acquiring an additional 38,961 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of Terex during the 1st quarter valued at approximately $229,000. Natixis Advisors L.P. bought a new position in shares of Terex during the 1st quarter valued at approximately $753,000. Finally, Alliancebernstein L.P. grew its position in shares of Terex by 8.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,775,953 shares of the industrial products company’s stock valued at $81,818,000 after acquiring an additional 133,063 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.
NYSE TEX traded down $0.27 on Friday, hitting $44.88. The stock had a trading volume of 1,117,639 shares, compared to its average volume of 662,790. Terex Co. has a 52-week low of $18.00 and a 52-week high of $55.60. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 2.11. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 23.13 and a beta of 1.67. The firm has a 50-day moving average of $48.24 and a 200-day moving average of $47.90.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 20th. Shareholders of record on Thursday, August 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, August 11th. Terex’s dividend payout ratio is presently 369.23%.
A number of research analysts have recently weighed in on TEX shares. Credit Suisse Group increased their target price on shares of Terex from $52.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, August 2nd. Stifel Nicolaus reissued a “buy” rating on shares of Terex in a research report on Tuesday, August 3rd. TheStreet raised shares of Terex from a “c” rating to a “b-” rating in a report on Thursday, July 29th. Barclays raised their price objective on shares of Terex from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Terex from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Terex has a consensus rating of “Buy” and a consensus price target of $50.56.
In other Terex news, VP Amy George sold 4,892 shares of the stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $53.75, for a total value of $262,945.00. Following the sale, the vice president now directly owns 98,935 shares in the company, valued at approximately $5,317,756.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.
Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. The firm designs, builds and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. It operates through the following segments: Aerial Work Platforms and Materials Processing.
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