Lenox Wealth Advisors LLC Takes Position in Terex Co. (TEX)

Lenox Wealth Advisors LLC purchased a new stake in shares of Terex Co. (NYSE:TEX) in the 3rd quarter, HoldingsChannel reports. The firm purchased 18,581 shares of the industrial products company’s stock, valued at approximately $742,000. Terex makes up 0.2% of Lenox Wealth Advisors LLC’s portfolio, making the stock its 27th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEX. Schwab Charles Investment Management Inc. boosted its position in Terex by 1.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 343,741 shares of the industrial products company’s stock valued at $12,860,000 after buying an additional 4,803 shares during the period. BlackRock Inc. boosted its position in Terex by 5.9% during the first quarter. BlackRock Inc. now owns 7,277,665 shares of the industrial products company’s stock valued at $272,258,000 after buying an additional 404,164 shares during the period. Natixis Advisors L.P. purchased a new stake in Terex during the first quarter valued at about $984,000. BNP Paribas Arbitrage SA boosted its position in Terex by 19.8% during the first quarter. BNP Paribas Arbitrage SA now owns 23,303 shares of the industrial products company’s stock valued at $872,000 after buying an additional 3,846 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Terex by 27.8% during the first quarter. Russell Investments Group Ltd. now owns 133,470 shares of the industrial products company’s stock valued at $4,990,000 after buying an additional 29,046 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

In related news, insider Kevin A. Barr sold 11,937 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $38.43, for a total value of $458,738.91. Following the completion of the transaction, the insider now directly owns 101,980 shares of the company’s stock, valued at $3,919,091.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Eric I. Cohen sold 10,000 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $39.01, for a total transaction of $390,100.00. Following the completion of the transaction, the vice president now directly owns 182,905 shares of the company’s stock, valued at $7,135,124.05. The disclosure for this sale can be found here. Over the last three months, insiders purchased 964 shares of company stock valued at $37,593 and sold 38,866 shares valued at $1,514,531. 3.50% of the stock is owned by corporate insiders.

Several research firms have issued reports on TEX. Zacks Investment Research lowered shares of Terex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Seaport Global Securities set a $49.00 price target on shares of Terex and gave the company a “buy” rating in a research report on Friday, July 13th. ValuEngine lowered shares of Terex from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Bank of America increased their target price on shares of Terex from $36.00 to $40.00 and gave the stock an “underperform” rating in a report on Wednesday, August 1st. Finally, Jefferies Financial Group upgraded shares of Terex from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $45.50.

Shares of Terex stock traded down $0.83 during trading on Tuesday, reaching $39.09. 8,174 shares of the stock were exchanged, compared to its average volume of 1,448,215. The company has a current ratio of 2.11, a quick ratio of 1.19 and a debt-to-equity ratio of 1.15. The firm has a market cap of $2.94 billion, a P/E ratio of 28.70, a P/E/G ratio of 0.59 and a beta of 1.52. Terex Co. has a 1 year low of $35.30 and a 1 year high of $50.17.

Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. Research analysts forecast that Terex Co. will post 2.9 earnings per share for the current fiscal year.

Terex declared that its board has initiated a share buyback program on Thursday, July 12th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Investors of record on Thursday, August 9th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 8th. Terex’s payout ratio is currently 29.63%.

Terex Company 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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