Westover Capital Advisors LLC bought a new position in Terex Corporation (NYSE:TEX – Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,404 shares of the industrial products company’s stock, valued at approximately $792,000.
Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Terex by 167.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 369 shares during the last quarter. Strs Ohio bought a new stake in Terex during the 1st quarter valued at about $30,000. Capital Advisors Ltd. LLC lifted its stake in shares of Terex by 856.2% in the first quarter. Capital Advisors Ltd. LLC now owns 851 shares of the industrial products company’s stock worth $50,000 after buying an additional 762 shares in the last quarter. UMB Bank n.a. raised its holdings in Terex by 15.0% in the 4th quarter. UMB Bank n.a. now owns 1,451 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 189 shares during the last quarter. Finally, Quarry LP purchased a new stake in Terex during the 4th quarter valued at $88,000. Institutional investors own 92.88% of the company’s stock.
Terex Stock Up 0.7%
TEX opened at $65.67 on Thursday. Terex Corporation has a 52 week low of $41.70 and a 52 week high of $74.69. The company has a quick ratio of 0.88, a current ratio of 1.84 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $64.02 and a two-hundred day simple moving average of $62.35. The company has a market capitalization of $7.50 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 1.02 and a beta of 1.49.
Terex Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 11th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, August 11th. Terex’s dividend payout ratio is currently 32.54%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on TEX shares. Citigroup raised their price target on shares of Terex from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Terex from $69.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terex in a research report on Monday, April 20th. Evercore reissued an “outperform” rating and set a $81.00 price target on shares of Terex in a report on Monday, May 11th. Finally, Wall Street Zen lowered Terex from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.
Get Our Latest Research Report on TEX
Insider Activity at Terex
In related news, insider Joshua Gross sold 5,874 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $61.53, for a total value of $361,427.22. Following the completion of the sale, the insider owned 48,706 shares in the company, valued at approximately $2,996,880.18. The trade was a 10.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.
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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