Martingale Asset Management L P Takes Position in Terex Co. (NYSE:TEX)

Martingale Asset Management L P purchased a new stake in Terex Co. (NYSE:TEX - Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 23,142 shares of the industrial products company's stock, valued at approximately $989,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TEX. BlackRock Inc. boosted its position in shares of Terex by 4.0% in the 3rd quarter. BlackRock Inc. now owns 9,415,481 shares of the industrial products company's stock worth $280,016,000 after purchasing an additional 362,857 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Terex by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 7,767,160 shares of the industrial products company's stock worth $276,978,000 after purchasing an additional 68,739 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Terex by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,007,281 shares of the industrial products company's stock worth $128,472,000 after purchasing an additional 44,022 shares in the last quarter. State Street Corp boosted its position in shares of Terex by 4.2% in the 1st quarter. State Street Corp now owns 2,225,934 shares of the industrial products company's stock worth $79,377,000 after purchasing an additional 90,371 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Terex by 21.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,471,160 shares of the industrial products company's stock worth $40,265,000 after purchasing an additional 261,712 shares in the last quarter. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

In other Terex news, insider Simon Meester sold 6,000 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $50.44, for a total transaction of $302,640.00. Following the completion of the transaction, the insider now owns 55,907 shares of the company's stock, valued at $2,819,949.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company's stock.

A number of analysts have recently weighed in on the company. 92 Resources reissued a "maintains" rating on shares of Terex in a research report on Tuesday, May 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Terex from $51.00 to $53.00 and gave the stock a "hold" rating in a research report on Wednesday, April 12th. KeyCorp lifted their price target on Terex from $56.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, February 13th. TheStreet raised Terex from a "c+" rating to a "b" rating in a research report on Thursday, February 9th. Finally, JPMorgan Chase & Co. lifted their price target on Terex from $48.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, February 13th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Terex has a consensus rating of "Hold" and a consensus price target of $55.45.

NYSE TEX opened at $50.99 on Tuesday. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.49 and a beta of 1.61. Terex Co. has a twelve month low of $26.64 and a twelve month high of $60.85. 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 of $46.53 and a 200 day moving average of $48.00.

Terex (NYSE:TEX - Get Rating) last released its quarterly earnings results on Monday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.56. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.13 billion. Terex had a return on equity of 31.41% and a net margin of 7.76%. Terex's quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. Sell-side analysts anticipate that Terex Co. will post 5.96 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.18%. Terex's payout ratio is currently 11.43%.

Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. It operates through the Material Processing and Aerial Work Platforms segments. The Materials Processing segment designs, manufactures, services and markets materials processing and equipment, including crushers, washing systems, screens, 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 their related components and replacement parts.

Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Co. (NYSE:TEX - Get Rating).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Terex, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Terex wasn't on the list.

While Terex currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.