New England Research & Management Inc. lowered its stake in Terex Co. (NYSE:TEX) by 16.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,900 shares of the industrial products company’s stock after selling 3,450 shares during the quarter. New England Research & Management Inc.’s holdings in Terex were worth $465,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in TEX. SG Americas Securities LLC acquired a new stake in shares of Terex in the third quarter valued at approximately $470,000. Gabelli Funds LLC raised its holdings in shares of Terex by 69.2% in the third quarter. Gabelli Funds LLC now owns 44,000 shares of the industrial products company’s stock valued at $1,143,000 after purchasing an additional 18,000 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Terex by 65.3% in the third quarter. Russell Investments Group Ltd. now owns 263,766 shares of the industrial products company’s stock valued at $6,839,000 after purchasing an additional 104,198 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of Terex by 4.8% in the third quarter. Texas Permanent School Fund now owns 44,585 shares of the industrial products company’s stock valued at $1,158,000 after purchasing an additional 2,062 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of Terex by 15.6% in the third quarter. Comerica Bank now owns 58,529 shares of the industrial products company’s stock valued at $1,658,000 after purchasing an additional 7,909 shares during the last quarter. 89.05% of the stock is currently owned by hedge funds and other institutional investors.
In other Terex news, insider Matthew Fearon sold 26,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $28.24, for a total value of $734,240.00. Following the transaction, the insider now directly owns 92,702 shares in the company, valued at $2,617,904.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders acquired 1,651 shares of company stock worth $41,542. Corporate insiders own 4.00% of the company’s stock.
TEX has been the topic of a number of recent research reports. Wells Fargo & Co lowered their price objective on shares of Terex from $35.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, September 25th. Bank of America lowered their price objective on shares of Terex from $27.00 to $22.00 and set an “underperform” rating on the stock in a report on Wednesday, September 25th. BMO Capital Markets set a $25.00 price objective on shares of Terex and gave the company a “hold” rating in a report on Thursday, October 10th. ValuEngine upgraded shares of Terex from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, UBS Group lowered their target price on shares of Terex from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Terex has a consensus rating of “Hold” and a consensus price target of $29.15.
TEX traded up $1.69 during trading on Friday, reaching $30.29. 1,580,611 shares of the stock were exchanged, compared to its average volume of 1,053,490. The stock has a market cap of $2.04 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.77. Terex Co. has a twelve month low of $22.84 and a twelve month high of $38.57. The stock’s 50 day moving average price is $26.66 and its two-hundred day moving average price is $28.18. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.28 and a current ratio of 2.21.
Terex (NYSE:TEX) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.11 billion. Terex had a positive return on equity of 29.17% and a negative net margin of 0.07%. Terex’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Equities research analysts predict that Terex Co. will post 3.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.44 annualized dividend and a dividend yield of 1.45%. Terex’s dividend payout ratio is currently 16.24%.
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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