Pzena Investment Management LLC Grows Position in Terex Co. (NYSE:TEX)

Pzena Investment Management LLC grew its stake in shares of Terex Co. (NYSE:TEX) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,471,316 shares of the industrial products company’s stock after purchasing an additional 248,600 shares during the quarter. Pzena Investment Management LLC owned approximately 4.88% of Terex worth $108,999,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new position in shares of Terex during the first quarter worth $39,000. Advisors Preferred LLC acquired a new stake in shares of Terex during the first quarter worth about $71,000. Investors Research Corp acquired a new stake in shares of Terex during the first quarter worth about $119,000. Dupont Capital Management Corp acquired a new stake in shares of Terex during the first quarter worth about $120,000. Finally, NumerixS Investment Technologies Inc increased its position in shares of Terex by 166.7% during the first quarter. NumerixS Investment Technologies Inc now owns 4,800 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 3,000 shares in the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

In other news, Director International Master F. Marcato sold 1,600,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $27.31, for a total value of $43,696,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 1,066 shares of company stock valued at $30,734 in the last ninety days. Insiders own 4.00% of the company’s stock.

TEX has been the topic of a number of research analyst reports. TheStreet upgraded Terex from a “c” rating to a “b-” rating in a research report on Thursday, May 2nd. BMO Capital Markets dropped their target price on Terex to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 31st. Evercore ISI reissued an “in-line” rating and set a $31.00 price target (down previously from $40.00) on shares of Terex in a research note on Friday, May 31st. Barclays reissued a “hold” rating and set a $33.00 price target on shares of Terex in a research note on Monday, July 15th. Finally, Morgan Stanley set a $37.00 target price on Terex and gave the company a “hold” rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $33.92.

Shares of TEX traded up $1.09 on Friday, reaching $24.43. 46,194 shares of the company’s stock were exchanged, compared to its average volume of 1,160,581. The company has a current ratio of 2.21, a quick ratio of 1.43 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $1.66 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 0.84 and a beta of 1.73. The business has a 50 day moving average price of $29.43 and a two-hundred day moving average price of $31.02. Terex Co. has a 12 month low of $23.13 and a 12 month high of $42.74.

Terex (NYSE:TEX) last posted its quarterly earnings results on Monday, July 29th. The industrial products company reported $1.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.13). The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.32 billion. Terex had a return on equity of 27.40% and a net margin of 0.29%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Equities research analysts predict that Terex Co. will post 3.58 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Monday, August 12th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, August 9th. Terex’s payout ratio is presently 16.24%.

Terex Profile

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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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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