AM Squared Ltd Buys 900 Shares of Terex Co. (NYSE:TEX)

AM Squared Ltd boosted its stake in Terex Co. (NYSE:TEX) by 64.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,300 shares of the industrial products company’s stock after purchasing an additional 900 shares during the period. AM Squared Ltd’s holdings in Terex were worth $126,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TEX. Norges Bank bought a new stake in Terex in the 4th quarter worth approximately $42,606,000. HM Payson & Co. bought a new stake in shares of Terex during the 1st quarter valued at $24,429,000. Curated Wealth Partners LLC grew its position in shares of Terex by 200.0% during the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock valued at $9,702,000 after acquiring an additional 353,844 shares during the period. Allianz Asset Management GmbH grew its position in shares of Terex by 356.0% during the 4th quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock valued at $11,903,000 after acquiring an additional 161,729 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Terex by 42.6% during the 4th quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock valued at $29,926,000 after acquiring an additional 155,706 shares during the period. Institutional investors own 92.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TEX. Jefferies Financial Group cut their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. UBS Group boosted their price objective on shares of Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Robert W. Baird lifted their target price on shares of Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Citigroup initiated coverage on shares of Terex in a research note on Wednesday, June 26th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, Evercore ISI lowered their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.30.

Insider Activity

In other Terex news, Director Andra Rush bought 2,205 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the transaction, the director now owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Terex Price Performance

TEX stock traded up $0.48 during mid-day trading on Friday, hitting $56.77. The company had a trading volume of 491,484 shares, compared to its average volume of 712,109. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 7.52, a P/E/G ratio of 3.85 and a beta of 1.57. Terex Co. has a 12-month low of $43.70 and a 12-month high of $68.08. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $56.33 and a 200 day moving average price of $58.18.

Terex (NYSE:TEX) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.35 EPS. On average, research analysts anticipate that Terex Co. will post 7.22 earnings per share for the current year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, August 9th. Terex’s dividend payout ratio is 9.01%.

About Terex

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.