Terex Corporation (TEX) Shares Bought by Fuller & Thaler Asset Management Inc.
Fuller & Thaler Asset Management Inc. boosted its stake in Terex Corporation (NYSE:TEX) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,332,911 shares of the industrial products company’s stock after buying an additional 9,902 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 1.58% of Terex Corporation worth $60,008,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of TEX. Sei Investments Co. raised its holdings in Terex Corporation by 19.5% in the 2nd quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock valued at $142,000 after buying an additional 619 shares during the period. Clear Perspective Advisors LLC purchased a new stake in Terex Corporation in the 2nd quarter valued at about $198,000. Pacer Advisors Inc. raised its holdings in Terex Corporation by 450.2% in the 3rd quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock valued at $200,000 after buying an additional 3,638 shares during the period. National Planning Corp purchased a new stake in Terex Corporation in the 2nd quarter valued at about $209,000. Finally, CIBC World Markets Inc. purchased a new stake in Terex Corporation in the 2nd quarter valued at about $210,000. Hedge funds and other institutional investors own 89.20% of the company’s stock.
Shares of Terex Corporation (TEX) traded down $0.51 during trading on Wednesday, hitting $45.13. The stock had a trading volume of 949,500 shares, compared to its average volume of 1,450,696. Terex Corporation has a 1-year low of $28.62 and a 1-year high of $48.86. The firm has a market capitalization of $4,030.00, a P/E ratio of 40.39, a PEG ratio of 3.15 and a beta of 1.89. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.53 and a current ratio of 2.42.
Terex Corporation (NYSE:TEX) last announced its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.14. Terex Corporation had a positive return on equity of 7.01% and a negative net margin of 2.62%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. analysts forecast that Terex Corporation will post 1.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders 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 dividend yield of 0.71%. The ex-dividend date is Wednesday, November 8th. Terex Corporation’s dividend payout ratio is presently -16.67%.
Terex Corporation declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 6th that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, VP Eric I. Cohen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the transaction, the vice president now directly owns 195,980 shares of the company’s stock, valued at $8,819,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin A. Barr sold 2,682 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $43.05, for a total value of $115,460.10. Following the completion of the transaction, the insider now directly owns 126,762 shares of the company’s stock, valued at $5,457,104.10. The disclosure for this sale can be found here. Over the last three months, insiders have bought 1,204 shares of company stock valued at $51,805 and have sold 51,723 shares valued at $2,171,476. Insiders own 2.50% of the company’s stock.
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TEX has been the subject of several research reports. UBS AG reaffirmed a “buy” rating and issued a $44.00 target price (up from $40.00) on shares of Terex Corporation in a research report on Wednesday, August 2nd. TheStreet raised Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Deutsche Bank AG set a $44.00 target price on Terex Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 target price on shares of Terex Corporation in a research report on Monday, August 21st. Finally, OTR Global downgraded Terex Corporation to a “positive” rating in a research report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Terex Corporation has a consensus rating of “Hold” and an average target price of $41.93.
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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