Burns Matteson Capital Management LLC Takes Position in Terex Co. (NYSE:TEX)

Burns Matteson Capital Management LLC purchased a new position in shares of Terex Co. (NYSE:TEX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,053 shares of the industrial products company’s stock, valued at approximately $222,000.

A number of other institutional investors have also added to or reduced their stakes in TEX. Raymond James & Associates raised its position in shares of Terex by 1.1% in the fourth quarter. Raymond James & Associates now owns 32,419 shares of the industrial products company’s stock worth $1,863,000 after buying an additional 356 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Terex by 5.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,077 shares of the industrial products company’s stock worth $464,000 after buying an additional 407 shares during the period. Blue Trust Inc. lifted its holdings in Terex by 179.0% in the fourth quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock worth $27,000 after buying an additional 299 shares during the period. International Assets Investment Management LLC boosted its position 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 worth $7,366,000 after purchasing an additional 125,924 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of Terex by 4.1% in the 4th quarter. New York State Teachers Retirement System now owns 93,215 shares of the industrial products company’s stock worth $5,356,000 after purchasing an additional 3,661 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Terex from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. UBS Group increased their price target on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. increased their price objective on shares of Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Citigroup initiated coverage on shares of Terex in a report on Wednesday, June 26th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, Robert W. Baird increased their price target on shares of Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Terex has an average rating of “Hold” and a consensus price target of $63.70.

Terex Stock Performance

Shares of NYSE:TEX traded up $1.04 during trading on Tuesday, reaching $55.11. The company had a trading volume of 954,824 shares, compared to its average volume of 852,042. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.06. The stock’s fifty day moving average price is $56.77 and its 200 day moving average price is $58.99. Terex Co. has a fifty-two week low of $43.70 and a fifty-two week high of $68.08. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 7.30, a price-to-earnings-growth ratio of 3.68 and a beta of 1.57.

Terex (NYSE:TEX) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, beating the consensus estimate of $2.06 by $0.10. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $2.35 EPS. As a group, equities research analysts predict that Terex Co. will post 7.25 EPS for the current year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, August 9th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, August 9th. Terex’s dividend payout ratio (DPR) is 9.01%.

Insider Transactions at Terex

In other Terex news, CAO Stephen Johnston sold 3,239 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total transaction of $200,818.00. Following the transaction, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at $905,572. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Stephen Johnston sold 3,239 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the completion of the sale, the chief accounting officer now owns 14,606 shares in the company, valued at approximately $905,572. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andra Rush acquired 2,205 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $54.36 per share, with a total value of $119,863.80. Following the transaction, the director now directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Terex Profile

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.