Terex Co. (NYSE:TEX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in Terex Co. (NYSE:TEX - Free Report) by 13.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,715 shares of the industrial products company's stock after selling 13,151 shares during the period. New York State Teachers Retirement System owned 0.12% of Terex worth $4,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Blue Trust Inc. increased its position in shares of Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 187 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Terex by 83.3% in the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 335 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Terex in the second quarter valued at approximately $109,000. 1620 Investment Advisors Inc. purchased a new position in shares of Terex in the second quarter valued at approximately $111,000. Finally, AM Squared Ltd boosted its stake in shares of Terex by 64.3% in the second quarter. AM Squared Ltd now owns 2,300 shares of the industrial products company's stock valued at $126,000 after purchasing an additional 900 shares during the period. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Terex Stock Down 3.9 %

TEX stock traded down $2.29 during midday trading on Thursday, reaching $56.32. 715,495 shares of the company were exchanged, compared to its average volume of 824,553. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. Terex Co. has a 1-year low of $47.30 and a 1-year high of $68.08. The stock's 50-day simple moving average is $53.20 and its 200 day simple moving average is $55.92. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 4.19 and a beta of 1.53.

Terex (NYSE:TEX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The company's quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 EPS. On average, equities analysts forecast that Terex Co. will post 5.99 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be issued a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.21%. Terex's payout ratio is 9.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEX. Robert W. Baird lowered their price objective on shares of Terex from $65.00 to $55.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Citigroup lowered their price objective on shares of Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research note on Monday, September 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Terex from $65.00 to $62.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. Evercore ISI decreased their price target on shares of Terex from $67.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, August 19th. Finally, Jefferies Financial Group decreased their price target on shares of Terex from $68.00 to $55.00 and set a "hold" rating for the company in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $59.56.

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.