HM Payson & Co. lowered its stake in shares of Terex Co. (NYSE:TEX - Free Report) by 40.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,170 shares of the industrial products company's stock after selling 170,280 shares during the period. HM Payson & Co. owned 0.37% of Terex worth $13,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of TEX. Dimensional Fund Advisors LP boosted its holdings in shares of Terex by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company's stock valued at $154,224,000 after purchasing an additional 109,885 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Terex by 18.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company's stock worth $99,045,000 after acquiring an additional 285,750 shares in the last quarter. Greenhaven Associates Inc. boosted its position in shares of Terex by 1.6% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company's stock valued at $82,242,000 after acquiring an additional 23,371 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Terex by 25.6% in the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company's stock valued at $72,538,000 after purchasing an additional 269,777 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Terex by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company's stock worth $43,330,000 after purchasing an additional 26,377 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.
Insider Activity at Terex
In other news, Director Andra Rush bought 2,205 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the acquisition, the director now directly owns 21,983 shares of the company's stock, valued at $1,194,995.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by insiders.
Analyst Ratings Changes
TEX has been the subject of a number of analyst reports. Robert W. Baird lowered their price target on shares of Terex from $65.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday. The Goldman Sachs Group lowered their target price on shares of Terex from $72.00 to $62.00 and set a "neutral" rating for the company in a research note on Friday, September 20th. Jefferies Financial Group dropped their target price on shares of Terex from $68.00 to $55.00 and set a "hold" rating on the stock in a research note on Thursday, July 11th. Evercore ISI reduced their price objective on Terex from $67.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. lowered their target price on Terex from $65.00 to $62.00 and set a "neutral" rating for the company in a report on Monday, October 14th. One analyst has 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 MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $59.22.
Check Out Our Latest Report on Terex
Terex Stock Up 0.3 %
NYSE TEX traded up $0.18 on Thursday, hitting $51.71. The stock had a trading volume of 912,736 shares, compared to its average volume of 826,507. The business's fifty day moving average price is $53.41 and its 200 day moving average price is $56.20. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 4.47 and a beta of 1.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. Terex Co. has a 52-week low of $44.38 and a 52-week high of $68.08.
Terex (NYSE:TEX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.19. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $1.75 EPS. The firm's revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts anticipate that Terex Co. will post 5.89 earnings per share for the current year.
Terex Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, November 8th. Terex's dividend payout ratio (DPR) is presently 9.33%.
About Terex
(
Free Report)
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.
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