Norges Bank Purchases Shares of 757,259 Terex Co. (NYSE:TEX)

Norges Bank purchased a new position in Terex Co. (NYSE:TEX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 757,259 shares of the industrial products company's stock, valued at approximately $35,001,000. Norges Bank owned 1.13% of Terex at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in shares of Terex by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,890,625 shares of the industrial products company's stock worth $87,385,000 after buying an additional 41,685 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Terex by 8.4% in the fourth quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company's stock worth $80,479,000 after buying an additional 135,286 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Terex by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,596,070 shares of the industrial products company's stock worth $84,463,000 after buying an additional 8,624 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Terex by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 982,636 shares of the industrial products company's stock valued at $45,417,000 after purchasing an additional 41,758 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Terex by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 725,486 shares of the industrial products company's stock valued at $33,532,000 after purchasing an additional 52,885 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.

Remove Ads

Insider Transactions at Terex

In related news, Director Andra Rush purchased 1,325 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price 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 approximately $861,463.68. This trade represents a 6.03 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TEX shares. UBS Group downgraded shares of Terex from a "neutral" rating to a "sell" rating and decreased their price target for the company from $49.00 to $32.00 in a research note on Monday. Citigroup cut their price objective on shares of Terex from $45.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday. Evercore ISI cut their price objective on shares of Terex from $63.00 to $59.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group cut their price objective 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, JPMorgan Chase & Co. cut their price target on shares of Terex from $51.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $48.44.

Terex Price Performance

Shares of NYSE:TEX traded down $1.67 during trading on Thursday, hitting $35.06. 178,714 shares of the company were exchanged, compared to its average volume of 1,027,919. The business's 50 day moving average is $40.92 and its 200-day moving average is $47.37. The company has a market capitalization of $2.32 billion, a P/E ratio of 7.07, a price-to-earnings-growth ratio of 4.53 and a beta of 1.40. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. Terex Co. has a 1-year low of $31.53 and a 1-year high of $68.08.

Terex (NYSE:TEX - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates 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 business earned $1.88 earnings per share. Equities analysts forecast that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.94%. Terex's dividend payout ratio (DPR) is presently 13.71%.

Terex 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.