Summit Global Investments Purchases 8,495 Shares of Terex Co. (NYSE:TEX)

Summit Global Investments grew its position in shares of Terex Co. (NYSE:TEX - Free Report) by 157.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,895 shares of the industrial products company's stock after buying an additional 8,495 shares during the quarter. Summit Global Investments' holdings in Terex were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of Terex by 2,821.9% in the first quarter. Victory Capital Management Inc. now owns 739,514 shares of the industrial products company's stock valued at $35,778,000 after purchasing an additional 714,205 shares in the last quarter. Norges Bank bought a new stake in Terex during the 4th quarter worth about $30,229,000. Renaissance Technologies LLC lifted its position in Terex by 110.8% during the 1st quarter. Renaissance Technologies LLC now owns 833,600 shares of the industrial products company's stock valued at $29,726,000 after purchasing an additional 438,200 shares during the period. BlackRock Inc. grew its position in shares of Terex by 5.3% during the 1st quarter. BlackRock Inc. now owns 8,373,481 shares of the industrial products company's stock worth $298,598,000 after buying an additional 417,925 shares during the period. Finally, Balyasny Asset Management LLC raised its stake in shares of Terex by 886.5% during the third quarter. Balyasny Asset Management LLC now owns 379,369 shares of the industrial products company's stock worth $11,282,000 after buying an additional 340,911 shares during the last quarter. Institutional investors and hedge funds own 91.66% of the company's stock.

TEX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Terex from $51.00 to $53.00 and gave the stock a "hold" rating in a research note on Wednesday, April 12th. StockNews.com started coverage on shares of Terex in a report on Thursday, May 18th. They issued a "buy" rating for the company. Robert W. Baird raised their price objective on Terex from $57.00 to $65.00 in a research note on Wednesday. Wells Fargo & Company increased their price target on Terex from $66.00 to $74.00 in a report on Thursday. Finally, Stifel Nicolaus raised their price objective on shares of Terex from $62.00 to $64.00 in a report on Wednesday, May 3rd. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Terex currently has an average rating of "Hold" and an average price target of $59.50.

Get Our Latest Stock Analysis on TEX

In other news, insider Kieran Hegarty sold 27,000 shares of Terex stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $55.84, for a total transaction of $1,507,680.00. Following the completion of the sale, the insider now owns 186,659 shares in the company, valued at approximately $10,423,038.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Terex news, insider Kieran Hegarty sold 27,000 shares of Terex stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $55.84, for a total transaction of $1,507,680.00. Following the completion of the sale, the insider now owns 186,659 shares of the company's stock, valued at $10,423,038.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John L. Garrison, Jr. sold 9,966 shares of the stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $60.00, for a total value of $597,960.00. Following the transaction, the chief executive officer now owns 535,331 shares in the company, valued at $32,119,860. The disclosure for this sale can be found here. Insiders own 2.40% of the company's stock.

TEX stock opened at $63.74 on Thursday. Terex Co. has a 1-year low of $28.82 and a 1-year high of $65.64. The company has a current ratio of 1.99, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $57.44 and a 200-day moving average price of $52.40. The firm has a market cap of $4.32 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.57 and a beta of 1.67.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $2.35 EPS for the quarter, topping the consensus estimate of $1.66 by $0.69. Terex had a net margin of 8.96% and a return on equity of 37.92%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The firm's revenue for the quarter was up 30.3% on a year-over-year basis. As a group, equities research analysts expect that Terex Co. will post 5.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, August 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. This is a positive change from Terex's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, August 11th. Terex's payout ratio is currently 9.20%.

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.

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