Terex Co. (NYSE:TEX) Shares Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC boosted its stake in Terex Co. (NYSE:TEX) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,061 shares of the industrial products company’s stock after purchasing an additional 2,052 shares during the period. Thoroughbred Financial Services LLC’s holdings in Terex were worth $990,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vest Financial LLC increased its holdings in Terex by 47.3% in the 2nd quarter. Vest Financial LLC now owns 20,599 shares of the industrial products company’s stock valued at $1,130,000 after purchasing an additional 6,613 shares in the last quarter. American Century Companies Inc. increased its holdings in Terex by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock valued at $72,538,000 after purchasing an additional 269,777 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Terex by 1.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 34,262 shares of the industrial products company’s stock valued at $1,879,000 after purchasing an additional 585 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Terex in the 2nd quarter valued at $147,000. Finally, Hanlon Investment Management Inc. increased its holdings in Terex by 12.1% in the 2nd quarter. Hanlon Investment Management Inc. now owns 7,303 shares of the industrial products company’s stock valued at $401,000 after purchasing an additional 790 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Terex

In other news, Director Andra Rush purchased 2,205 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the purchase, the director now owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by company insiders.

Terex Stock Performance

Shares of TEX stock opened at $51.42 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. Terex Co. has a one year low of $43.70 and a one year high of $68.08. The company’s 50-day simple moving average is $55.87 and its 200-day simple moving average is $57.94. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 6.81, a PEG ratio of 3.44 and a beta of 1.53.

Terex (NYSE:TEX) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company posted $2.35 earnings per share. Terex’s revenue was down 1.5% on a year-over-year basis. Equities analysts anticipate that Terex Co. will post 7.22 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, August 9th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. Terex’s payout ratio is currently 9.01%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TEX shares. Evercore ISI decreased their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Raymond James started coverage on shares of Terex in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Jefferies Financial Group decreased 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. Truist Financial upped their price objective on shares of Terex from $68.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Terex presently has a consensus rating of “Hold” and an average target price of $63.30.

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.