Rhumbline Advisers Decreases Stake in Terex Co. (TEX)

Rhumbline Advisers lowered its stake in shares of Terex Co. (NYSE:TEX) by 7.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,681 shares of the industrial products company’s stock after selling 9,207 shares during the quarter. Rhumbline Advisers owned about 0.16% of Terex worth $4,737,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TEX. Stratos Wealth Partners LTD. acquired a new stake in Terex during the third quarter worth approximately $109,000. Lido Advisors LLC acquired a new stake in Terex during the second quarter worth approximately $246,000. Strs Ohio acquired a new stake in Terex during the second quarter worth approximately $307,000. Pinnacle Associates Ltd. grew its position in Terex by 32.4% during the second quarter. Pinnacle Associates Ltd. now owns 8,170 shares of the industrial products company’s stock worth $345,000 after buying an additional 2,001 shares in the last quarter. Finally, Clear Perspective Advisors LLC grew its position in Terex by 62.0% during the second quarter. Clear Perspective Advisors LLC now owns 8,535 shares of the industrial products company’s stock worth $360,000 after buying an additional 3,266 shares in the last quarter.

In other Terex news, VP Eric I. Cohen sold 10,000 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $39.01, for a total transaction of $390,100.00. Following the completion of the sale, the vice president now directly owns 182,905 shares in the company, valued at $7,135,124.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin A. Barr sold 11,937 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $38.43, for a total value of $458,738.91. Following the completion of the transaction, the insider now owns 101,980 shares of the company’s stock, valued at $3,919,091.40. The disclosure for this sale can be found here. Insiders have acquired 852 shares of company stock valued at $30,092 over the last 90 days. Corporate insiders own 3.50% of the company’s stock.

A number of equities research analysts recently issued reports on the company. ValuEngine downgraded Terex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research raised Terex from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. UBS Group set a $52.00 price target on Terex and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Robert W. Baird raised Terex from an “underperform” rating to a “neutral” rating and set a $38.00 price target on the stock in a research report on Monday, August 20th. Finally, Deutsche Bank reissued a “sell” rating and set a $34.00 price target on shares of Terex in a research report on Wednesday, September 5th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $40.83.

NYSE TEX opened at $28.35 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.22 and a quick ratio of 1.14. Terex Co. has a fifty-two week low of $27.97 and a fifty-two week high of $50.17. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 0.31 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 for the quarter, missing the consensus estimate of $0.75 by ($0.07). Terex had a return on equity of 18.86% and a net margin of 2.42%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts predict that Terex Co. will post 2.65 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Friday, November 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.41%. The ex-dividend date is Thursday, November 8th. Terex’s payout ratio is presently 29.63%.

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Terex Company 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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