First Trust Advisors LP Acquires 9,277 Shares of Terex Co. (NYSE:TEX)

First Trust Advisors LP lifted its holdings in Terex Co. (NYSE:TEX – Get Rating) by 2.5% in the third quarter, Holdings Channel reports. The fund owned 382,742 shares of the industrial products company’s stock after purchasing an additional 9,277 shares during the quarter. First Trust Advisors LP’s holdings in Terex were worth $11,383,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TEX. Bessemer Group Inc. raised its position in Terex by 130.6% in the 3rd quarter. Bessemer Group Inc. now owns 934 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 529 shares during the period. Teacher Retirement System of Texas raised its position in Terex by 4.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 11,389 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 536 shares during the period. Texas Permanent School Fund raised its position in Terex by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 50,058 shares of the industrial products company’s stock worth $1,370,000 after purchasing an additional 573 shares during the period. New York State Common Retirement Fund raised its position in Terex by 1.0% in the 3rd quarter. New York State Common Retirement Fund now owns 67,206 shares of the industrial products company’s stock worth $1,999,000 after purchasing an additional 639 shares during the period. Finally, AXA S.A. raised its position in Terex by 0.5% in the 3rd quarter. AXA S.A. now owns 128,200 shares of the industrial products company’s stock worth $3,813,000 after purchasing an additional 700 shares during the period. Institutional investors own 87.37% of the company’s stock.

Insider Buying and Selling at Terex

In other Terex news, CAO Stephen Johnston sold 2,428 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $55.51, for a total value of $134,778.28. Following the completion of the sale, the chief accounting officer now directly owns 12,340 shares in the company, valued at $684,993.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO John L. Garrison, Jr. sold 150,000 shares of Terex stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $56.16, for a total transaction of $8,424,000.00. Following the completion of the sale, the chief executive officer now directly owns 646,609 shares in the company, valued at $36,313,561.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen Johnston sold 2,428 shares of Terex stock in a transaction on Monday, February 13th. The stock was sold at an average price of $55.51, for a total transaction of $134,778.28. Following the sale, the chief accounting officer now owns 12,340 shares of the company’s stock, valued at $684,993.40. The disclosure for this sale can be found here. Insiders sold a total of 374,481 shares of company stock worth $21,446,276 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Terex Price Performance

NYSE TEX opened at $53.23 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.96. The firm’s 50 day moving average price is $51.94 and its 200-day moving average price is $42.97. Terex Co. has a 52-week low of $26.64 and a 52-week high of $60.85. The company has a market cap of $3.59 billion, a PE ratio of 12.26, a P/E/G ratio of 0.58 and a beta of 1.67.

Terex (NYSE:TEX – Get Rating) last announced its earnings results on Friday, February 10th. The industrial products company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.21. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.10 billion. Terex had a net margin of 6.79% and a return on equity of 27.44%. Terex’s revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm earned $0.82 earnings per share. Sell-side analysts forecast that Terex Co. will post 4.89 EPS for the current fiscal year.

Terex announced that its board has approved a stock buyback program on Monday, December 19th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Terex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Shareholders of record on Thursday, March 9th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.13%. This is an increase from Terex’s previous quarterly dividend of $0.13. The ex-dividend date is Wednesday, March 8th. Terex’s dividend payout ratio (DPR) is 13.82%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TEX. Morgan Stanley increased their price objective on shares of Terex from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Monday, February 13th. TheStreet raised shares of Terex from a “c+” rating to a “b” rating in a research report on Thursday, February 9th. KeyCorp raised their target price on shares of Terex from $56.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, February 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Terex from $40.00 to $51.00 and gave the stock a “hold” rating in a research report on Monday, February 13th. Finally, Stifel Nicolaus raised their target price on shares of Terex from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, January 20th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.00.

Terex Company Profile

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Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. It operates through the Material Processing and Aerial Work Platforms segments. The Materials Processing segment designs, manufactures, services and markets materials processing and equipment, including crushers, washing systems, screens, 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 their related components and replacement parts.