Terex Co. (NYSE:TEX) Holdings Boosted by Panagora Asset Management Inc.

Panagora Asset Management Inc. grew its stake in shares of Terex Co. (NYSE:TEX) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,738 shares of the industrial products company’s stock after purchasing an additional 20,056 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.31% of Terex worth $11,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. increased its position 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 buying an additional 187 shares during the period. FinTrust Capital Advisors LLC grew its position in shares of Terex by 202.2% during the first 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 during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Terex in the 4th quarter worth about $61,000. Principal Securities Inc. bought a new stake in Terex in the 4th quarter valued at about $85,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Terex during the 2nd quarter valued at about $111,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Terex

In other Terex news, Director Andra Rush purchased 2,205 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the acquisition, the director now owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

Terex Price Performance

Shares of NYSE:TEX traded up $0.48 during trading hours on Friday, hitting $56.77. 491,395 shares of the company’s stock traded hands, compared to its average volume of 821,927. The company’s fifty day simple moving average is $56.26 and its two-hundred day simple moving average is $58.17. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 7.42, a price-to-earnings-growth ratio of 3.83 and a beta of 1.57. 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 52 week low of $43.70 and a 52 week high of $68.08.

Terex (NYSE:TEX) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. The firm had revenue of $1.38 billion during 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 firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $2.35 earnings per share. As a group, equities analysts anticipate that Terex Co. will post 7.22 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be issued 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 is Friday, August 9th. Terex’s dividend payout ratio is 9.01%.

Analyst Ratings Changes

Several brokerages have commented on TEX. Robert W. Baird raised their price target 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. Truist Financial raised their target price on Terex from $68.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. UBS Group increased their price target on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. The Goldman Sachs Group lifted their price objective on shares of Terex from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.30.

Terex Profile

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.