Wells Fargo & Company MN grew its stake in shares of Terex Corporation (NYSE:TEX) by 102.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 866,634 shares of the industrial products company’s stock after purchasing an additional 439,086 shares during the period. Wells Fargo & Company MN owned about 0.91% of Terex Corporation worth $32,499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&T Bank Corp lifted its holdings in shares of Terex Corporation by 1.5% during the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock valued at $279,000 after purchasing an additional 130 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Terex Corporation by 8.3% during the first quarter. Thrivent Financial For Lutherans now owns 19,920 shares of the industrial products company’s stock valued at $625,000 after purchasing an additional 1,520 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Terex Corporation by 5.7% during the second quarter. Legal & General Group Plc now owns 170,769 shares of the industrial products company’s stock valued at $6,400,000 after purchasing an additional 9,152 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Terex Corporation by 13.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Terex Corporation by 7.6% during the first quarter. Geode Capital Management LLC now owns 824,753 shares of the industrial products company’s stock valued at $25,897,000 after purchasing an additional 58,306 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Terex Corporation (NYSE TEX) opened at 43.81 on Thursday. The stock’s 50 day moving average price is $39.31 and its 200-day moving average price is $35.38. The firm’s market cap is $3.92 billion. Terex Corporation has a one year low of $21.88 and a one year high of $44.80.

Terex Corporation (NYSE:TEX) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. Terex Corporation’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. Analysts forecast that Terex Corporation will post $1.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Monday, August 7th. Terex Corporation’s dividend payout ratio is currently -50.79%.

Terex Corporation declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 30th that allows the company to buyback $280.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 8.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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In other Terex Corporation news, insider Steve Filipov sold 4,564 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $38.22, for a total transaction of $174,436.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kieran Hegarty sold 15,115 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $43.23, for a total value of $653,421.45. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 4,202 shares of company stock worth $159,449 and sold 102,675 shares worth $4,063,899. 2.50% of the stock is currently owned by insiders.

TEX has been the subject of several analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $33.00 target price on shares of Terex Corporation in a report on Monday, June 5th. Zacks Investment Research raised Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Thursday, July 13th. OTR Global downgraded Terex Corporation to a “positive” rating in a report on Wednesday, September 13th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $41.00 target price (up from $38.50) on shares of Terex Corporation in a report on Monday, June 19th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $35.00 target price on shares of Terex Corporation in a report on Thursday, July 20th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Terex Corporation currently has a consensus rating of “Hold” and a consensus price target of $38.00.

Terex Corporation Profile

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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Institutional Ownership by Quarter for Terex Corporation (NYSE:TEX)

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