Pinebridge Investments L.P. Purchases 8,559 Shares of Terex Co. (NYSE:TEX)

Pinebridge Investments L.P. boosted its position in Terex Co. (NYSE:TEX) by 42.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,599 shares of the industrial products company’s stock after purchasing an additional 8,559 shares during the quarter. Pinebridge Investments L.P.’s holdings in Terex were worth $1,322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in Terex by 192.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,652 shares of the industrial products company’s stock worth $169,000 after purchasing an additional 2,403 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Terex by 6.6% in the fourth quarter. MetLife Investment Management LLC now owns 76,599 shares of the industrial products company’s stock valued at $3,540,000 after buying an additional 4,739 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Terex by 43.2% in the fourth quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company’s stock valued at $89,247,000 after buying an additional 582,819 shares during the period. Canada Pension Plan Investment Board grew its position in Terex by 21.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the industrial products company’s stock worth $106,000 after buying an additional 400 shares in the last quarter. Finally, Barclays PLC increased its stake in Terex by 24.6% during the 4th quarter. Barclays PLC now owns 160,988 shares of the industrial products company’s stock worth $7,441,000 after acquiring an additional 31,738 shares during the period. 92.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Andra Rush purchased 1,325 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the transaction, the director now owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TEX. Morgan Stanley cut their target price on Terex from $43.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Citigroup reduced their price objective on shares of Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. dropped their target price on shares of Terex from $48.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group reduced their price target on shares of Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.60.

Terex Trading Down 1.1 %

NYSE TEX opened at $35.93 on Monday. Terex Co. has a twelve month low of $31.53 and a twelve month high of $68.08. The business’s fifty day moving average is $38.23 and its 200 day moving average is $45.85. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 4.53 and a beta of 1.40.

Terex (NYSE:TEX) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same period in the prior year, the company earned $1.88 earnings per share. As a group, sell-side analysts expect that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued a $0.17 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.89%. Terex’s payout ratio is 13.71%.

About Terex

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.