Empirical Finance LLC Purchases 10,227 Shares of Terex Co. (NYSE:TEX)

Empirical Finance LLC lifted its position in Terex Co. (NYSE:TEX) by 126.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,318 shares of the industrial products company’s stock after acquiring an additional 10,227 shares during the period. Empirical Finance LLC’s holdings in Terex were worth $1,005,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares in the last quarter. FinTrust Capital Advisors LLC increased its stake in shares of Terex by 202.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 465 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Terex during the 4th quarter valued at about $61,000. Principal Securities Inc. purchased a new position in Terex during the 4th quarter valued at about $85,000. Finally, International Assets Investment Management LLC purchased a new stake in Terex in the second quarter worth about $109,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Activity

In other Terex news, Director Andra Rush acquired 2,205 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the acquisition, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of Terex from $68.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Evercore ISI dropped their target price on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. The Goldman Sachs Group raised their price target on Terex from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group reduced their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Terex currently has a consensus rating of “Hold” and an average price target of $63.30.

Terex Stock Up 0.9 %

TEX opened at $56.77 on Friday. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 3.85 and a beta of 1.57. The firm has a 50 day moving average price of $56.33 and a 200-day moving average price of $58.18. Terex Co. has a twelve month low of $43.70 and a twelve 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.

Terex (NYSE:TEX) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.35 EPS. Equities research analysts forecast that Terex Co. will post 7.22 earnings per share for the current 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 dividend of $0.17 per share. The ex-dividend date is Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. Terex’s dividend payout ratio is currently 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.