Calamos Advisors LLC Purchases Shares of 10,040 Terex Co. (TEX)

Calamos Advisors LLC purchased a new stake in Terex Co. (NYSE:TEX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,040 shares of the industrial products company’s stock, valued at approximately $401,000.

A number of other large investors have also bought and sold shares of the business. Pinnacle Associates Ltd. boosted its holdings in Terex by 32.4% in the second quarter. Pinnacle Associates Ltd. now owns 8,170 shares of the industrial products company’s stock valued at $345,000 after purchasing an additional 2,001 shares during the last quarter. CenturyLink Investment Management Co boosted its holdings in Terex by 8.3% in the second quarter. CenturyLink Investment Management Co now owns 32,745 shares of the industrial products company’s stock valued at $1,382,000 after purchasing an additional 2,519 shares during the last quarter. Aperio Group LLC boosted its holdings in Terex by 3.8% in the second quarter. Aperio Group LLC now owns 79,091 shares of the industrial products company’s stock valued at $3,337,000 after purchasing an additional 2,924 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Terex by 39.7% in the second quarter. PNC Financial Services Group Inc. now owns 10,538 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 2,996 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in Terex by 24.9% in the second quarter. Xact Kapitalforvaltning AB now owns 15,053 shares of the industrial products company’s stock valued at $635,000 after purchasing an additional 3,000 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on TEX shares. Seaport Global Securities set a $49.00 price target on shares of Terex and gave the company a “buy” rating in a report on Friday, July 13th. Zacks Investment Research raised shares of Terex from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Tuesday, July 17th. ValuEngine lowered shares of Terex from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. Longbow Research initiated coverage on shares of Terex in a research note on Friday, October 12th. They set a “neutral” rating on the stock. Finally, Robert W. Baird lowered shares of Terex from a “neutral” rating to an “underperform” rating and set a $38.00 target price on the stock. in a research note on Tuesday, July 10th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $45.50.



In related news, insider Kevin A. Barr sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $39.65, for a total value of $396,500.00. Following the transaction, the insider now directly owns 113,908 shares of the company’s stock, valued at approximately $4,516,452.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kevin A. Barr sold 11,937 shares of the firm’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $38.43, for a total transaction of $458,738.91. Following the completion of the transaction, the insider now directly owns 101,980 shares in the company, valued at $3,919,091.40. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,344 shares of company stock worth $52,633 and sold 38,866 shares worth $1,514,531. Company insiders own 3.50% of the company’s stock.

TEX stock opened at $30.16 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.19 and a current ratio of 2.11. Terex Co. has a 52-week low of $29.44 and a 52-week high of $50.17. The stock has a market cap of $2.22 billion, a PE ratio of 12.78, a PEG ratio of 0.44 and a beta of 1.52.

Terex (NYSE:TEX) last posted its earnings results on Tuesday, July 31st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.08. Terex had a net margin of 2.91% and a return on equity of 16.66%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. Sell-side analysts forecast that Terex Co. will post 2.92 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Friday, November 9th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Thursday, November 8th. Terex’s dividend payout ratio is presently 29.63%.

Terex declared that its Board of Directors has authorized a share buyback plan on Thursday, July 12th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Terex Profile

Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.

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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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