Barings LLC Trims Holdings in Terex Co. (TEX)

Barings LLC trimmed its holdings in shares of Terex Co. (NYSE:TEX) by 32.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,300 shares of the industrial products company’s stock after selling 4,500 shares during the quarter. Barings LLC’s holdings in Terex were worth $371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Russell Investments Group Ltd. grew its holdings in Terex by 14.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 282,191 shares of the industrial products company’s stock worth $11,279,000 after acquiring an additional 35,719 shares during the last quarter. ARP Americas LP bought a new stake in Terex during the 3rd quarter worth approximately $451,000. First Trust Advisors LP bought a new stake in Terex during the 3rd quarter worth approximately $12,088,000. Fisher Asset Management LLC grew its holdings in Terex by 559.4% during the 3rd quarter. Fisher Asset Management LLC now owns 2,196,079 shares of the industrial products company’s stock worth $87,646,000 after acquiring an additional 1,863,038 shares during the last quarter. Finally, Calamos Advisors LLC bought a new stake in shares of Terex in the 3rd quarter valued at $401,000.

Terex stock opened at $31.18 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.19 and a current ratio of 2.11. Terex Co. has a 12-month low of $28.64 and a 12-month high of $50.17. The firm has a market cap of $2.30 billion, a P/E ratio of 23.10, a P/E/G ratio of 0.46 and a beta of 1.61.

Terex (NYSE:TEX) last released its earnings results on Thursday, November 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.07). Terex had a net margin of 2.42% and a return on equity of 18.39%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. On average, equities research analysts expect that Terex Co. will post 2.65 EPS for the current fiscal year.

Terex declared that its board has initiated a share buyback plan on Thursday, July 12th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 8.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Friday, November 9th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.28%. Terex’s payout ratio is presently 29.63%.

In related news, insider Steve Filipov sold 6,929 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $38.85, for a total transaction of $269,191.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kevin A. Barr sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $39.65, for a total transaction of $396,500.00. Following the transaction, the insider now owns 113,908 shares in the company, valued at approximately $4,516,452.20. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 1,029 shares of company stock worth $39,885 and have sold 38,866 shares worth $1,514,531. 3.50% of the stock is owned by insiders.

TEX has been the topic of a number of analyst reports. ValuEngine raised shares of Terex from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Robert W. Baird lowered shares of Terex from a “neutral” rating to an “underperform” rating and set a $38.00 price objective on the stock. in a research note on Tuesday, July 10th. Seaport Global Securities set a $49.00 price objective on shares of Terex and gave the company a “buy” rating in a research note on Friday, July 13th. Zacks Investment Research raised shares of Terex from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, July 17th. Finally, Wells Fargo & Co lowered shares of Terex from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 19th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $44.33.

Terex Profile

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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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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