First Mercantile Trust Co. reduced its stake in shares of Terex Co. (NYSE:TEX) by 62.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,340 shares of the industrial products company’s stock after selling 7,209 shares during the quarter. First Mercantile Trust Co.’s holdings in Terex were worth $162,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in shares of Terex during the fourth quarter worth $236,000. Boston Advisors LLC bought a new stake in shares of Terex during the fourth quarter worth $11,255,000. SG Americas Securities LLC grew its holdings in shares of Terex by 239.4% during the fourth quarter. SG Americas Securities LLC now owns 23,211 shares of the industrial products company’s stock worth $1,119,000 after purchasing an additional 16,372 shares during the last quarter. SignalPoint Asset Management LLC bought a new stake in shares of Terex during the fourth quarter worth $750,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Terex during the fourth quarter worth $4,356,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.
In other news, VP Mark I. Clair sold 11,737 shares of the firm’s stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $38.33, for a total transaction of $449,879.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steve Filipov sold 8,984 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $43.28, for a total value of $388,827.52. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 11,365 shares of company stock worth $419,688 and have sold 51,027 shares worth $2,035,188. Company insiders own 3.50% of the company’s stock.
Several brokerages have recently commented on TEX. BMO Capital Markets restated a “hold” rating and set a $46.00 target price on shares of Terex in a report on Wednesday, April 18th. TheStreet upgraded Terex from a “c” rating to a “b” rating in a report on Tuesday, May 1st. Morgan Stanley began coverage on Terex in a report on Friday, March 2nd. They set an “equal weight” rating and a $45.00 target price on the stock. Zacks Investment Research cut Terex from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Robert W. Baird set a $43.00 target price on Terex and gave the stock a “hold” rating in a report on Friday, April 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Terex presently has an average rating of “Hold” and an average price target of $45.57.
Shares of Terex opened at $41.79 on Monday, according to Marketbeat Ratings. The company has a current ratio of 2.26, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00. Terex Co. has a 1 year low of $32.04 and a 1 year high of $50.17. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 30.96, a P/E/G ratio of 0.72 and a beta of 1.83.
Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, May 1st. The industrial products company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.19. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.12 billion. Terex had a return on equity of 12.83% and a net margin of 3.98%. Terex’s revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. equities analysts predict that Terex Co. will post 2.89 earnings per share for the current year.
Terex announced that its Board of Directors has initiated a share buyback 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 buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 19th. Stockholders of record on Friday, June 8th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, June 7th. Terex’s dividend payout ratio is currently 29.63%.
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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