Summit Investment Advisors Inc. Buys 11,655 Shares of Terex Co. (NYSE:TEX)

Summit Investment Advisors Inc. boosted its holdings in Terex Co. (NYSE:TEX - Free Report) by 56.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,131 shares of the industrial products company's stock after purchasing an additional 11,655 shares during the period. Summit Investment Advisors Inc.'s holdings in Terex were worth $1,485,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TEX. Sterling Capital Management LLC raised its position in Terex by 817.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,100 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 1,871 shares during the last quarter. LSV Asset Management raised its holdings in shares of Terex by 35.4% during the fourth quarter. LSV Asset Management now owns 34,400 shares of the industrial products company's stock valued at $1,590,000 after acquiring an additional 9,000 shares in the last quarter. Capital Fund Management S.A. boosted its holdings in Terex by 28.7% in the fourth quarter. Capital Fund Management S.A. now owns 63,788 shares of the industrial products company's stock valued at $2,948,000 after acquiring an additional 14,209 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Terex during the 4th quarter valued at $2,291,000. Finally, Advisory Services Network LLC bought a new position in Terex in the 4th quarter worth $527,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TEX shares. The Goldman Sachs Group decreased their price target on shares of Terex from $60.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Morgan Stanley lowered their target price on Terex from $43.00 to $30.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. UBS Group cut Terex from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $49.00 to $32.00 in a research note on Monday, April 7th. StockNews.com lowered Terex from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Finally, Evercore ISI decreased their price target on shares of Terex from $63.00 to $59.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Terex currently has a consensus rating of "Hold" and an average price target of $45.60.

Insider Activity at Terex

In other news, Director Andra Rush purchased 1,325 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the purchase, the director now directly owns 23,308 shares in the company, valued at $861,463.68. This trade represents a 6.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by company insiders.

Terex Stock Performance

Shares of NYSE:TEX traded up $0.46 during midday trading on Tuesday, reaching $33.98. 742,418 shares of the company's stock traded hands, compared to its average volume of 904,218. Terex Co. has a one year low of $31.53 and a one year high of $68.08. The stock has a 50 day moving average of $38.87 and a 200 day moving average of $46.26. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 6.85, a P/E/G ratio of 4.53 and a beta of 1.40. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the prior year, the firm posted $1.88 EPS. As a group, equities research analysts anticipate that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, March 7th. Terex's payout ratio is currently 13.71%.

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.