BlackRock Inc. acquired a new position in Terex Corporation (NYSE:TEX – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,691,820 shares of the industrial products company’s stock, valued at approximately $1,063,541,000. BlackRock Inc. owned approximately 0.13% of Terex as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in shares of Terex during the third quarter valued at approximately $121,724,000. Invesco Ltd. lifted its stake in shares of Terex by 801.3% during the 3rd quarter. Invesco Ltd. now owns 1,603,965 shares of the industrial products company’s stock worth $82,283,000 after acquiring an additional 1,425,996 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Terex during the 4th quarter valued at $69,802,000. Arrowstreet Capital Limited Partnership boosted its holdings in Terex by 11,448.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,238,924 shares of the industrial products company’s stock valued at $73,220,000 after acquiring an additional 1,228,196 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Terex by 29.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,442,435 shares of the industrial products company’s stock valued at $262,527,000 after acquiring an additional 1,008,444 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors.
Terex Price Performance
Shares of Terex stock opened at $66.33 on Friday. The stock has a market capitalization of $7.58 billion, a P/E ratio of 33.84, a PEG ratio of 0.97 and a beta of 1.51. The business has a 50 day simple moving average of $66.94 and a two-hundred day simple moving average of $63.81. Terex Corporation has a 12 month low of $41.70 and a 12 month high of $74.69. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.82 and a quick ratio of 0.93.
Terex Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 11th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. Terex’s dividend payout ratio is 34.69%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on TEX shares. Evercore reiterated an “outperform” rating and issued a $81.00 price target on shares of Terex in a report on Monday, May 11th. DA Davidson initiated coverage on Terex in a report on Wednesday, June 24th. They set a “strong-buy” rating and a $81.00 price objective on the stock. Barclays lifted their target price on Terex from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Raymond James Financial raised Terex from an “outperform” rating to a “strong-buy” rating and set a $85.00 price target on the stock in a research report on Monday, May 11th. Finally, Citigroup raised their price target on Terex from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.91.
Check Out Our Latest Stock Analysis on TEX
About Terex
Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.
Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.
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