Kendall Capital Management Increases Position in Terex Co. (NYSE:TEX)

Kendall Capital Management lifted its position in shares of Terex Co. (NYSE:TEX) by 47.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,305 shares of the industrial products company’s stock after acquiring an additional 2,680 shares during the quarter. Kendall Capital Management’s holdings in Terex were worth $455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TEX. Blue Trust Inc. increased its stake in shares of Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares during the period. FinTrust Capital Advisors LLC increased its stake 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 period. OLD Point Trust & Financial Services N A acquired a new position in shares of Terex during the fourth quarter worth about $61,000. Principal Securities Inc. acquired a new position in shares of Terex during the fourth quarter worth about $85,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Terex during the second quarter worth about $109,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TEX has been the topic of a number of recent analyst reports. Raymond James started coverage on shares of Terex in a research note on Friday, June 28th. They set a “market perform” rating on the stock. 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 report on Monday, August 19th. Truist Financial upped their target price on shares of Terex from $68.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird upped their target price on shares of Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Citigroup started coverage on shares of Terex in a research report on Wednesday, June 26th. They set a “neutral” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.30.

Insider Transactions at Terex

In other Terex news, Director Andra Rush acquired 2,205 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the transaction, the director now directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Terex Stock Performance

Shares of TEX opened at $53.83 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 3.61 and a beta of 1.53. The company’s 50 day simple moving average is $56.02 and its 200 day simple moving average is $57.89. Terex Co. has a 1 year low of $43.70 and a 1 year high of $68.08.

Terex (NYSE:TEX) last posted its quarterly 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. Terex had a net margin of 9.55% and a return on equity of 27.89%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm posted $2.35 earnings per share. Terex’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts predict that Terex Co. will post 7.21 EPS for the current year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 9th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, August 9th. Terex’s payout ratio is currently 9.01%.

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.