Hanlon Investment Management Inc. Has $401,000 Holdings in Terex Co. (NYSE:TEX)

Hanlon Investment Management Inc. grew its stake in Terex Co. (NYSE:TEX) by 12.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,303 shares of the industrial products company’s stock after buying an additional 790 shares during the period. Hanlon Investment Management Inc.’s holdings in Terex were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Terex in the fourth quarter valued at approximately $42,606,000. HM Payson & Co. purchased a new stake in shares of Terex in the 1st quarter valued at $24,429,000. Curated Wealth Partners LLC lifted its stake in shares of Terex by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock valued at $9,702,000 after acquiring an additional 353,844 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Terex by 356.0% during the fourth quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock valued at $11,903,000 after purchasing an additional 161,729 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Terex by 42.6% in the fourth quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock valued at $29,926,000 after acquiring an additional 155,706 shares during the period. 92.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Robert W. Baird lifted their price objective on Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Citigroup started coverage on Terex in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 target price on the stock. Truist Financial raised their target price on Terex from $68.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group lowered their price target on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Finally, The Goldman Sachs Group lifted their target price on Terex from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.30.

Insider Activity at Terex

In other Terex news, Director Andra Rush purchased 2,205 shares of the 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 purchase was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is owned by insiders.

Terex Price Performance

Shares of NYSE:TEX traded down $0.64 during midday trading on Friday, hitting $49.81. The company’s stock had a trading volume of 870,737 shares, compared to its average volume of 559,615. The business’s 50 day simple moving average is $56.19 and its 200 day simple moving average is $58.04. The company has a market cap of $3.33 billion, a P/E ratio of 6.60, a price-to-earnings-growth ratio of 3.52 and a beta of 1.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. Terex Co. has a 12-month low of $43.70 and a 12-month high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping 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 company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm earned $2.35 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that Terex Co. will post 7.22 EPS for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, August 9th. Terex’s payout ratio is currently 9.01%.

Terex Company 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.