Dimensional Fund Advisors LP Acquires 109,885 Shares of Terex Co. (NYSE:TEX)

Dimensional Fund Advisors LP raised its holdings in Terex Co. (NYSE:TEX) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,812,383 shares of the industrial products company’s stock after acquiring an additional 109,885 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Terex were worth $154,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Greenhaven Associates Inc. raised its stake in Terex by 1.6% in the second quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company’s stock valued at $82,242,000 after purchasing an additional 23,371 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Terex by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after acquiring an additional 269,777 shares during the last quarter. Bank of New York Mellon Corp grew its position in Terex by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock worth $43,330,000 after acquiring an additional 26,377 shares in the last quarter. Norges Bank bought a new position in Terex in the fourth quarter valued at $42,606,000. Finally, First Trust Advisors LP raised its position in Terex by 42.6% during the fourth quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock valued at $29,926,000 after purchasing an additional 155,706 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TEX. Robert W. Baird upped their price objective on Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Citigroup started coverage on shares of Terex in a research report on Wednesday, June 26th. They set a “neutral” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Evercore ISI lowered their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Jefferies Financial Group reduced their price objective on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Terex currently has an average rating of “Hold” and a consensus target price of $61.20.

Terex Stock Performance

Shares of TEX stock opened at $51.83 on Friday. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 6.86, a PEG ratio of 3.61 and a beta of 1.53. The stock has a fifty day moving average of $56.01 and a 200 day moving average of $57.86. Terex Co. has a 52 week low of $43.70 and a 52 week 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 posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate 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 company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.35 EPS. As a group, research analysts expect that Terex Co. will post 7.21 earnings per share for the current year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.31%. Terex’s payout ratio is 9.01%.

Insider Transactions at Terex

In other news, Director Andra Rush purchased 2,205 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought 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 directly owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

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.