Magnus Financial Group LLC purchased a new position in Terex Co. (NYSE:TEX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,669 shares of the industrial products company’s stock, valued at approximately $238,000.
Several other large investors have also recently modified their holdings of TEX. Fuller & Thaler Asset Management Inc. boosted its holdings in Terex by 80.7% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,721,698 shares of the industrial products company’s stock valued at $53,444,000 after acquiring an additional 1,661,684 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Terex by 27.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,886,211 shares of the industrial products company’s stock valued at $110,484,000 after acquiring an additional 1,257,269 shares during the period. Fisher Asset Management LLC lifted its position in shares of Terex by 34.8% during the 2nd quarter. Fisher Asset Management LLC now owns 2,657,139 shares of the industrial products company’s stock valued at $49,874,000 after acquiring an additional 686,025 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Terex by 285.0% during the 1st quarter. JPMorgan Chase & Co. now owns 688,090 shares of the industrial products company’s stock valued at $9,881,000 after acquiring an additional 509,388 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Terex by 976.0% during the second quarter. Victory Capital Management Inc. now owns 558,348 shares of the industrial products company’s stock worth $10,480,000 after buying an additional 506,458 shares during the last quarter. 88.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE TEX opened at $19.91 on Thursday. The firm has a market cap of $1.36 billion, a PE ratio of 124.44 and a beta of 1.60. Terex Co. has a 12-month low of $11.54 and a 12-month high of $31.28. The company’s fifty day simple moving average is $19.52 and its 200 day simple moving average is $17.96. The company has a quick ratio of 1.49, a current ratio of 2.53 and a debt-to-equity ratio of 1.46.
Terex (NYSE:TEX) last issued its earnings results on Thursday, July 30th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.55. The business had revenue of $690.50 million for the quarter, compared to analyst estimates of $629.80 million. Terex had a net margin of 0.34% and a return on equity of 6.70%. On average, equities analysts predict that Terex Co. will post -0.42 earnings per share for the current year.
In other Terex news, SVP Kevin A. Barr sold 5,479 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $21.34, for a total value of $116,921.86. Following the sale, the senior vice president now owns 24,571 shares in the company, valued at $524,345.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have purchased 2,367 shares of company stock valued at $43,892. 3.70% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Terex from $14.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Cfra lowered shares of Terex from a “hold” rating to a “sell” rating in a research report on Monday, May 4th. Morgan Stanley lowered their target price on shares of Terex from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Deutsche Bank initiated coverage on shares of Terex in a research note on Tuesday, June 30th. They issued a “hold” rating and a $21.00 target price on the stock. Finally, UBS Group lowered their target price on shares of Terex from $28.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. Terex presently has a consensus rating of “Hold” and a consensus price target of $22.80.
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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