NWQ Investment Management Company LLC reduced its position in Terex (NYSE:TEX) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 213,967 shares of the industrial products company’s stock after selling 5,640 shares during the period. NWQ Investment Management Company LLC owned about 0.25% of Terex worth $10,317,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Legal & General Group Plc lifted its stake in Terex by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 172,062 shares of the industrial products company’s stock valued at $7,744,000 after purchasing an additional 1,293 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Terex by 1.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 105,442 shares of the industrial products company’s stock valued at $5,084,000 after purchasing an additional 1,670 shares during the last quarter. Scotia Capital Inc. lifted its position in Terex by 30.1% during the fourth quarter. Scotia Capital Inc. now owns 8,673 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 2,009 shares during the last quarter. Sei Investments Co. lifted its position in Terex by 52.9% during the third quarter. Sei Investments Co. now owns 5,812 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 2,012 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Terex by 388.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 2,028 shares during the last quarter. Institutional investors and hedge funds own 97.80% of the company’s stock.
TEX has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Terex in a research report on Friday, March 2nd. They set an “equal weight” rating and a $45.00 price objective for the company. Credit Suisse Group cut their price objective on shares of Terex from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Zacks Investment Research downgraded shares of Terex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 20th. TheStreet downgraded shares of Terex from a “b” rating to a “c” rating in a research report on Wednesday, February 14th. Finally, Robert W. Baird restated a “buy” rating and set a $52.00 price objective on shares of Terex in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $45.27.
NYSE TEX opened at $36.11 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.30 and a quick ratio of 1.36. Terex has a 1-year low of $30.89 and a 1-year high of $50.17. The company has a market capitalization of $2,994.57, a PE ratio of 26.75, a price-to-earnings-growth ratio of 0.91 and a beta of 1.80.
Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. Terex had a net margin of 2.95% and a return on equity of 8.80%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $999.18 million. sell-side analysts anticipate that Terex will post 2.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Investors of record on Friday, March 9th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.11%. This is a boost from Terex’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 8th. Terex’s dividend payout ratio (DPR) is 29.63%.
Terex declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 7th that permits the company to repurchase $325.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Matthew Fearon sold 30,306 shares of Terex stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $39.48, for a total value of $1,196,480.88. Following the transaction, the insider now directly owns 114,664 shares of the company’s stock, valued at $4,526,934.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Sachs acquired 6,500 shares of the firm’s stock in a transaction that occurred on Friday, March 23rd. The stock was purchased at an average cost of $36.59 per share, for a total transaction of $237,835.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 10,990 shares of company stock worth $409,423 and sold 49,411 shares worth $2,090,346. Company insiders own 2.50% of the company’s stock.
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Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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