Teacher Retirement System of Texas Has $309,000 Stake in Terex Corp. (TEX)
Teacher Retirement System of Texas increased its stake in Terex Corp. (NYSE:TEX) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,198 shares of the company’s stock after buying an additional 1,837 shares during the period. Teacher Retirement System of Texas’ holdings in Terex Corp. were worth $309,000 as of its most recent SEC filing.
Other large investors 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 valued at $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 valued at $175,000 after buying an additional 1,000 shares during the period. PNC Financial Services Group Inc. increased its stake in Terex Corp. by 3.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,875 shares of the company’s stock valued at $182,000 after buying an additional 323 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 valued at $217,000 after buying an additional 113 shares during the period. Finally, Zweig DiMenna Associates LLC bought a new stake in Terex Corp. during the second quarter valued at approximately $219,000. 81.01% of the stock is currently owned by institutional investors and hedge funds.
Terex Corp. (NYSE:TEX) traded up 5.23% during trading on Friday, hitting $25.14. The stock had a trading volume of 1,608,591 shares. Terex Corp. has a 52-week low of $13.62 and a 52-week high of $25.85. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 50.89 and a beta of 2.93. The firm’s 50-day moving average price is $24.32 and its 200-day moving average price is $23.24.
Terex Corp. (NYSE:TEX) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.10. The firm 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 business’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. Analysts predict that Terex Corp. will post $0.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Thursday, November 10th will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.11%. Terex Corp.’s payout ratio is 57.14%.
Several research firms have commented on TEX. Barclays PLC dropped their target price on Terex Corp. from $25.00 to $20.00 and set an “equal weight” rating on the stock 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 stock a “buy” rating in a research note on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $20.00 price target on Terex Corp. and gave the stock a “hold” rating in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.50.
In other Terex Corp. news, insider Kevin A. Barr sold 10,000 shares of Terex Corp. stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $23.75, for a total transaction of $237,500.00. Following the completion of the sale, the insider now owns 153,788 shares of the company’s stock, valued at approximately $3,652,465. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director G Chris Andersen sold 20,000 shares of Terex Corp. stock in a transaction dated Thursday, August 4th. The stock was 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.
Terex Corp. Company Profile
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.
Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Corp. (NYSE:TEX).
Receive News & Ratings for Terex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.