Investors Research Corp Takes Position in Terex Co. (TEX)
Investors Research Corp bought a new stake in shares of Terex Co. (NYSE:TEX) during the first quarter, Holdings Channel reports. The institutional investor bought 3,700 shares of the industrial products company’s stock, valued at approximately $119,000.
Other institutional investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in shares of Terex by 2,657.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 785,745 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 757,245 shares during the period. AdvisorNet Financial Inc acquired a new position in Terex during the fourth quarter worth $40,000. NumerixS Investment Technologies Inc acquired a new position in Terex during the fourth quarter worth $49,000. Financial Architects Inc acquired a new position in Terex during the fourth quarter worth $69,000. Finally, Belpointe Asset Management LLC acquired a new position in Terex during the third quarter worth $144,000. Institutional investors own 94.88% of the company’s stock.
Several research analysts have weighed in on the stock. UBS Group downgraded shares of Terex from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $37.00 in a report on Tuesday. Bank of America set a $33.00 price objective on shares of Terex and gave the stock a “sell” rating in a report on Thursday, February 28th. Morgan Stanley restated a “hold” rating on shares of Terex in a report on Tuesday, February 26th. Credit Suisse Group upped their price objective on shares of Terex from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, February 26th. Finally, Wells Fargo & Co upped their price objective on shares of Terex from $32.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, February 26th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $37.17.
Terex (NYSE:TEX) last announced its earnings results on Sunday, February 24th. The industrial products company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.01. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Terex had a net margin of 2.22% and a return on equity of 21.60%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, equities research analysts anticipate that Terex Co. will post 3.84 earnings per share for the current fiscal year.
In related news, insider Steve Filipov sold 10,048 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $35.64, for a total transaction of $358,110.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director International Master F. Marcato sold 1,100,000 shares of the stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $31.54, for a total transaction of $34,694,000.00. The disclosure for this sale can be found here. In the last quarter, insiders bought 1,619 shares of company stock valued at $53,232. 4.00% of the stock is currently owned by corporate insiders.
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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