Systematic Financial Management LP Acquires New Stake in Terex Co. (TEX)
Systematic Financial Management LP acquired a new position in shares of Terex Co. (NYSE:TEX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 946,515 shares of the industrial products company’s stock, valued at approximately $42,612,000. Terex accounts for 0.9% of Systematic Financial Management LP’s investment portfolio, making the stock its 20th biggest holding. Systematic Financial Management LP owned 1.13% of Terex at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in Terex by 4.7% during the second quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 262 shares during the period. Legal & General Group Plc lifted its position in Terex by 5.7% during the second quarter. Legal & General Group Plc now owns 170,769 shares of the industrial products company’s stock worth $6,400,000 after purchasing an additional 9,152 shares during the period. AHL Partners LLP lifted its position in Terex by 7.6% during the second quarter. AHL Partners LLP now owns 77,063 shares of the industrial products company’s stock worth $2,890,000 after purchasing an additional 5,423 shares during the period. Swiss National Bank lifted its position in Terex by 1.4% during the second quarter. Swiss National Bank now owns 177,000 shares of the industrial products company’s stock worth $6,638,000 after purchasing an additional 2,500 shares during the period. Finally, BT Investment Management Ltd bought a new stake in Terex during the second quarter worth about $1,016,000. 89.20% of the stock is owned by institutional investors and hedge funds.
Terex Co. (NYSE TEX) traded up $0.80 during trading on Monday, hitting $44.82. The stock had a trading volume of 1,123,200 shares, compared to its average volume of 1,452,800. Terex Co. has a one year low of $27.77 and a one year high of $48.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.42 and a quick ratio of 1.53. The firm has a market capitalization of $4,010.00, a P/E ratio of 39.66, a P/E/G ratio of 3.10 and a beta of 1.89.
Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.14. Terex had a positive return on equity of 7.01% and a negative net margin of 2.62%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. equities research analysts predict that Terex Co. will post 1.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Thursday, November 9th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Wednesday, November 8th. Terex’s dividend payout ratio is presently -16.67%.
Terex announced that its board has authorized a share repurchase plan on Wednesday, September 6th that permits the company to buyback $225.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other Terex news, VP Eric I. Cohen sold 10,000 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the sale, the vice president now owns 195,980 shares of the company’s stock, valued at approximately $8,819,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark I. Clair sold 4,880 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $40.00, for a total transaction of $195,200.00. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,204 shares of company stock valued at $51,805 and have sold 51,723 shares valued at $2,171,476. Corporate insiders own 2.50% of the company’s stock.
TEX has been the subject of a number of research reports. UBS AG reissued a “buy” rating and issued a $44.00 target price (up previously from $40.00) on shares of Terex in a report on Wednesday, August 2nd. Deutsche Bank AG set a $44.00 target price on shares of Terex and gave the stock a “buy” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating and issued a $38.00 target price on shares of Terex in a report on Wednesday, September 13th. TheStreet raised shares of Terex from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $35.00 target price on shares of Terex in a report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, seven 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 has a consensus rating of “Hold” and an average target price of $41.93.
Terex Company 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.
Receive News & Stock Ratings for Terex Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Co. and related stocks with our FREE daily email newsletter.