Sanctuary Advisors LLC Invests $590,000 in Terex Co. (NYSE:TEX)

Sanctuary Advisors LLC acquired a new position in Terex Co. (NYSE:TEX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,893 shares of the industrial products company's stock, valued at approximately $590,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Terex during the fourth quarter valued at $399,000. Quadrature Capital Ltd purchased a new position in Terex during the fourth quarter valued at $319,000. Westend Capital Management LLC purchased a new position in Terex during the first quarter valued at $203,000. Range Financial Group LLC grew its stake in Terex by 6.5% during the first quarter. Range Financial Group LLC now owns 13,690 shares of the industrial products company's stock valued at $882,000 after acquiring an additional 837 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its stake in Terex by 43.9% during the first quarter. Hennessy Advisors Inc. now owns 77,700 shares of the industrial products company's stock valued at $5,004,000 after acquiring an additional 23,700 shares in the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Trading Up 0.6 %

Shares of Terex stock traded up $0.34 during trading on Tuesday, hitting $55.73. The stock had a trading volume of 663,309 shares, compared to its average volume of 830,587. The firm's fifty day simple moving average is $53.31 and its 200-day simple moving average is $56.98. The stock has a market cap of $3.75 billion, a PE ratio of 7.38, a PEG ratio of 4.43 and a beta of 1.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. Terex Co. has a 12 month low of $43.70 and a 12 month high of $68.08.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business posted $2.35 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that Terex Co. will post 5.88 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.22%. Terex's payout ratio is 9.01%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TEX shares. The Goldman Sachs Group lowered their price objective on shares of Terex from $72.00 to $62.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Jefferies Financial Group lowered their price objective on shares of Terex from $68.00 to $55.00 and set a "hold" rating for the company in a research report on Thursday, July 11th. Truist Financial lowered their price objective on shares of Terex from $63.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. Citigroup lowered their price objective on shares of Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research report on Monday, September 23rd. Finally, Robert W. Baird increased their price objective on shares of Terex from $63.00 to $65.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $60.30.

Insider Activity at Terex

In related news, Director Andra Rush acquired 2,205 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the acquisition, the director now directly owns 21,983 shares of the company's stock, valued at $1,194,995.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

Terex Company 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.