Vanguard Group Inc. Reduces Position in Terex Co. (NYSE:TEX)

Vanguard Group Inc. reduced its holdings in shares of Terex Co. (NYSE:TEX - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,705,100 shares of the industrial products company's stock after selling 166,516 shares during the quarter. Vanguard Group Inc. owned 10.04% of Terex worth $309,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TEX. American Century Companies Inc. grew its holdings in Terex by 8.4% during 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. Regents Gate Capital LLP bought a new stake in shares of Terex in the 4th quarter worth $5,561,000. Point72 Asset Management L.P. purchased a new stake in shares of Terex in the third quarter valued at about $4,283,000. Bank of New York Mellon Corp lifted its position in shares of 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. Finally, Curated Wealth Partners LLC boosted its holdings in Terex by 28.3% during the fourth quarter. Curated Wealth Partners LLC now owns 226,922 shares of the industrial products company's stock worth $10,488,000 after purchasing an additional 50,000 shares during the last quarter. 92.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays reduced their price objective on Terex from $60.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased their price objective on shares of Terex from $51.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, March 18th. Evercore ISI dropped their target price on shares of Terex from $63.00 to $59.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group decreased their price target on shares of Terex from $60.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Finally, Citigroup dropped their price objective on Terex from $48.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $54.22.

Remove Ads

Terex Stock Down 4.9 %

Shares of TEX traded down $1.76 during trading hours on Friday, hitting $34.07. The company had a trading volume of 1,936,957 shares, compared to its average volume of 882,973. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 6.87, a P/E/G ratio of 4.53 and a beta of 1.40. The firm has a fifty day moving average price of $42.32 and a 200-day moving average price of $48.06. Terex Co. has a 52-week low of $32.17 and a 52-week high of $68.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16.

Terex (NYSE:TEX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping 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 previous year, the company earned $1.88 earnings per share. On average, equities research analysts forecast that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued 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 yield of 2.00%. Terex's dividend payout ratio is currently 13.71%.

Insiders Place Their Bets

In other Terex news, Director Andra Rush bought 1,325 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares of the company's stock, valued at $861,463.68. This trade represents a 6.03 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.90% of the company's stock.

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.