Blueshift Asset Management LLC Acquires New Holdings in Terex Co. (NYSE:TEX)

Blueshift Asset Management LLC acquired a new stake in shares of Terex Co. (NYSE:TEX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,818 shares of the industrial products company’s stock, valued at approximately $610,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Terex by 8.5% in the second quarter. Vanguard Group Inc. now owns 6,944,174 shares of the industrial products company’s stock valued at $330,682,000 after acquiring an additional 544,495 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Terex by 55.5% in the second quarter. Bank of New York Mellon Corp now owns 1,162,196 shares of the industrial products company’s stock valued at $55,344,000 after acquiring an additional 414,929 shares in the last quarter. Millennium Management LLC boosted its stake in Terex by 203.5% in the first quarter. Millennium Management LLC now owns 503,172 shares of the industrial products company’s stock valued at $23,181,000 after acquiring an additional 337,408 shares in the last quarter. AQR Capital Management LLC boosted its stake in Terex by 55.6% in the first quarter. AQR Capital Management LLC now owns 601,797 shares of the industrial products company’s stock valued at $27,725,000 after acquiring an additional 214,968 shares in the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in Terex in the second quarter valued at approximately $10,142,000. 85.23% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on TEX. Morgan Stanley lowered their target price on shares of Terex from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday. TheStreet upgraded shares of Terex from a “c” rating to a “b-” rating in a research note on Thursday, July 29th. Citigroup lifted their price objective on shares of Terex from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Terex from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Terex from a “neutral” rating to an “overweight” rating and set a $61.00 price objective for the company in a research note on Tuesday, July 13th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Terex currently has a consensus rating of “Buy” and a consensus target price of $50.06.

TEX opened at $39.96 on Thursday. Terex Co. has a fifty-two week low of $22.77 and a fifty-two week high of $55.60. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.36 and a current ratio of 2.11. The company has a fifty day moving average of $46.99 and a two-hundred day moving average of $47.57. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 20.60 and a beta of 1.67.

Terex (NYSE:TEX) last released its quarterly earnings data on Wednesday, July 28th. The industrial products company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.42. Terex had a net margin of 3.98% and a return on equity of 15.86%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $993.12 million. On average, equities research analysts forecast that Terex Co. will post 3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 20th. Shareholders of record on Thursday, August 12th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 11th. This represents a $0.48 dividend on an annualized basis and a yield of 1.20%. Terex’s payout ratio is 369.23%.

In other Terex news, VP Amy George sold 4,892 shares of Terex stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $53.75, for a total value of $262,945.00. Following the completion of the transaction, the vice president now owns 98,935 shares of the company’s stock, valued at $5,317,756.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by insiders.

About Terex

Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. The firm designs, builds and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. It operates through the following segments: Aerial Work Platforms and Materials Processing.

Featured Article: How can investors benefit from after-hours trading?

Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Co. (NYSE:TEX).

Institutional Ownership by Quarter for Terex (NYSE:TEX)

Receive News & Ratings for Terex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex and related companies with MarketBeat.com's FREE daily email newsletter.