Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Terex Co. (NYSE:TEX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Terex Co. (NYSE:TEX) by 12.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,495 shares of the industrial products company’s stock after acquiring an additional 1,797 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Terex were worth $905,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TEX. Blue Trust Inc. grew its stake in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares during the period. FCG Investment Co boosted its holdings in Terex by 3.5% during the second quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock worth $358,000 after buying an additional 220 shares in the last quarter. QRG Capital Management Inc. grew its position in Terex by 4.6% during the fourth quarter. QRG Capital Management Inc. now owns 5,332 shares of the industrial products company’s stock valued at $306,000 after buying an additional 234 shares during the period. SummerHaven Investment Management LLC increased its holdings in Terex by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 12,114 shares of the industrial products company’s stock valued at $664,000 after buying an additional 258 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in shares of Terex by 1.9% in the first quarter. State of Michigan Retirement System now owns 16,418 shares of the industrial products company’s stock worth $1,057,000 after acquiring an additional 300 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Terex Stock Performance

NYSE:TEX opened at $53.11 on Wednesday. Terex Co. has a twelve month low of $43.70 and a twelve month high of $68.08. The company has a market cap of $3.55 billion, a P/E ratio of 7.03, a P/E/G ratio of 3.85 and a beta of 1.54. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $56.38 and its 200-day moving average price is $58.18.

Terex (NYSE:TEX) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business earned $2.35 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts forecast that Terex Co. will post 7.22 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, August 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. Terex’s dividend payout ratio is presently 9.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Raymond James began coverage on Terex in a research report on Friday, June 28th. They set a “market perform” rating on the stock. UBS Group raised their price objective on Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Evercore ISI reduced their target price on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Jefferies Financial Group dropped their price target on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group boosted their price target on shares of Terex from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.