Private Advisor Group LLC Sells 1,672 Shares of Terex Corporation (TEX)
Private Advisor Group LLC reduced its position in Terex Corporation (NYSE:TEX) by 20.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,317 shares of the industrial products company’s stock after selling 1,672 shares during the quarter. Private Advisor Group LLC’s holdings in Terex Corporation were worth $235,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. M&T Bank Corp raised its holdings in shares of Terex Corporation by 1.5% in the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock valued at $279,000 after acquiring an additional 130 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its holdings in shares of Terex Corporation by 0.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 47,951 shares of the industrial products company’s stock valued at $1,506,000 after acquiring an additional 170 shares in the last quarter. Capstone Asset Management Co. raised its holdings in shares of Terex Corporation by 1.5% in the second quarter. Capstone Asset Management Co. now owns 14,468 shares of the industrial products company’s stock valued at $543,000 after acquiring an additional 220 shares in the last quarter. Mirador Capital Partners LP raised its holdings in shares of Terex Corporation by 4.5% in the second quarter. Mirador Capital Partners LP now owns 9,118 shares of the industrial products company’s stock valued at $360,000 after acquiring an additional 394 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.
In related news, Director David A. Sachs acquired 3,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $37.97 per share, for a total transaction of $113,910.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Brian J. Henry sold 10,154 shares of Terex Corporation stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $40.00, for a total value of $406,160.00. Following the completion of the transaction, the senior vice president now owns 313,263 shares of the company’s stock, valued at approximately $12,530,520. The disclosure for this sale can be found here. In the last quarter, insiders bought 4,202 shares of company stock valued at $159,449 and sold 102,675 shares valued at $4,063,899. Company insiders own 2.50% of the company’s stock.
Several research firms recently weighed in on TEX. BMO Capital Markets restated a “hold” rating and issued a $35.00 price objective on shares of Terex Corporation in a report on Monday, August 21st. Goldman Sachs Group, Inc. (The) downgraded Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Thursday, June 15th. Deutsche Bank AG set a $44.00 price objective on Terex Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $38.00 price objective on shares of Terex Corporation in a report on Wednesday, September 13th. Finally, TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $37.93.
Terex Corporation (NYSE:TEX) opened at 42.96 on Friday. The firm has a 50-day moving average of $39.31 and a 200-day moving average of $35.38. Terex Corporation has a one year low of $21.88 and a one year high of $44.80. The company’s market capitalization is $3.84 billion.
Terex Corporation (NYSE:TEX) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, analysts anticipate that Terex Corporation will post $1.15 earnings per share for the current year.
Terex Corporation announced that its Board of Directors has authorized a stock 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 generally a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Monday, August 7th. Terex Corporation’s payout ratio is presently -50.79%.
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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