1620 Investment Advisors Inc. Makes New Investment in Terex Co. (NYSE:TEX)

1620 Investment Advisors Inc. acquired a new position in shares of Terex Co. (NYSE:TEX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,019 shares of the industrial products company’s stock, valued at approximately $111,000.

Several other large investors have also modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in shares of Terex by 5,549.8% in the 4th quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company’s stock valued at $7,366,000 after purchasing an additional 125,924 shares during the last quarter. Cerity Partners LLC grew its position in shares of Terex by 36.2% during the fourth quarter. Cerity Partners LLC now owns 5,777 shares of the industrial products company’s stock worth $332,000 after acquiring an additional 1,536 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Terex in the 4th quarter valued at $1,086,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Terex by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,196 shares of the industrial products company’s stock valued at $931,000 after purchasing an additional 353 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Terex by 3.6% during the 4th quarter. California Public Employees Retirement System now owns 137,551 shares of the industrial products company’s stock worth $7,904,000 after purchasing an additional 4,737 shares during the period. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Stock Performance

Shares of TEX opened at $53.67 on Friday. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The company has a 50-day simple moving average of $56.05 and a 200-day simple moving average of $58.45. Terex Co. has a 52-week low of $43.70 and a 52-week high of $68.08. The company has a market capitalization of $3.61 billion, a PE ratio of 7.11, a P/E/G ratio of 3.68 and a beta of 1.57.

Terex (NYSE:TEX) last announced its quarterly earnings results 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 return on equity of 27.89% and a net margin of 9.55%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $2.35 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts predict that Terex Co. will post 7.22 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.27%. Terex’s dividend payout ratio is presently 9.01%.

Analyst Upgrades and Downgrades

TEX has been the subject of a number of research reports. Evercore ISI reduced their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday. The Goldman Sachs Group increased their price objective on Terex from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Jefferies Financial Group dropped their target price on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Raymond James initiated coverage on Terex in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Citigroup assumed coverage on shares of Terex in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Terex presently has an average rating of “Hold” and an average price target of $63.30.

Insider Transactions at Terex

In related news, Director Andra Rush acquired 2,205 shares of Terex stock in a transaction dated Friday, August 2nd. The shares were acquired 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 $1,194,995.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.