Baird Financial Group Inc. Decreases Position in Terex Co. (NYSE:TEX)

Baird Financial Group Inc. decreased its stake in Terex Co. (NYSE:TEX) by 2.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 59,529 shares of the industrial products company’s stock after selling 1,472 shares during the quarter. Baird Financial Group Inc.’s holdings in Terex were worth $2,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new position in Terex in the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC boosted its holdings in Terex by 46.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Terex in the third quarter valued at about $40,000. VisionPoint Advisory Group LLC purchased a new position in Terex in the fourth quarter valued at about $51,000. Finally, Blue Trust Inc. boosted its holdings in Terex by 26.8% in the fourth quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Stock Up 1.2%

Shares of Terex stock opened at $41.23 on Monday. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The business’s 50 day simple moving average is $37.49 and its 200-day simple moving average is $44.70. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 4.53 and a beta of 1.52. Terex Co. has a twelve month low of $31.53 and a twelve month high of $68.08.

Terex (NYSE:TEX) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.26. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Terex had a return on equity of 21.99% and a net margin of 6.54%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. Equities research analysts forecast that Terex Co. will post 4.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Evercore ISI reduced their price target on Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. UBS Group cut Terex from a “neutral” rating to a “sell” rating and cut their price objective for the company from $49.00 to $32.00 in a research note on Monday, April 7th. Barclays cut their price objective on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Citigroup cut their price objective on Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley cut their price objective on Terex from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.40.

Insider Transactions at Terex

In other Terex news, insider Joshua Gross sold 5,389 shares of Terex stock in a transaction on Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the sale, the insider now owns 38,755 shares of the company’s stock, valued at $1,579,266.25. The trade was a 12.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andra Rush bought 1,325 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the purchase, the director now directly owns 23,308 shares in the company, valued at $861,463.68. This represents a 6.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

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.