Northwestern Mutual Investment Management Company LLC decreased its holdings in shares of Terex Co. (NYSE:TEX) by 10.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,022 shares of the industrial products company’s stock after selling 1,238 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Terex were worth $354,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System raised its holdings in shares of Terex by 1.1% in the 4th quarter. Arizona State Retirement System now owns 46,550 shares of the industrial products company’s stock worth $1,283,000 after buying an additional 499 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Terex by 31.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 9,532 shares of the industrial products company’s stock valued at $263,000 after buying an additional 2,290 shares during the last quarter. Rhumbline Advisers boosted its position in Terex by 35.7% in the 4th quarter. Rhumbline Advisers now owns 160,993 shares of the industrial products company’s stock valued at $4,439,000 after buying an additional 42,312 shares during the last quarter. LSV Asset Management boosted its position in Terex by 299.3% in the 4th quarter. LSV Asset Management now owns 1,610,086 shares of the industrial products company’s stock valued at $44,390,000 after buying an additional 1,206,820 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Terex by 2,657.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 785,745 shares of the industrial products company’s stock valued at $29,000 after buying an additional 757,245 shares during the last quarter. Institutional investors and hedge funds own 90.84% of the company’s stock.
In related news, Director International Master F. Marcato sold 1,100,000 shares of Terex stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $31.54, for a total transaction of $34,694,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director International Master F. Marcato sold 1,600,000 shares of Terex stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $27.31, for a total value of $43,696,000.00. The disclosure for this sale can be found here. Insiders bought a total of 1,200 shares of company stock valued at $38,192 in the last 90 days. 4.00% of the stock is owned by corporate insiders.
Shares of TEX traded down $0.09 during midday trading on Wednesday, hitting $27.75. The stock had a trading volume of 6,740 shares, compared to its average volume of 1,031,279. Terex Co. has a twelve month low of $25.47 and a twelve month high of $45.47. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 0.80 and a beta of 1.72. The company has a debt-to-equity ratio of 2.01, a current ratio of 2.27 and a quick ratio of 1.41.
Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.30. Terex had a positive return on equity of 25.38% and a negative net margin of 0.06%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that Terex Co. will post 4.03 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Friday, June 7th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Thursday, June 6th. Terex’s payout ratio is 16.24%.
A number of research analysts have commented on TEX shares. UBS Group lowered Terex from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $50.00 to $37.00 in a research report on Tuesday, April 23rd. Morgan Stanley set a $37.00 price objective on Terex and gave the company a “hold” rating in a research report on Thursday, May 2nd. TheStreet upgraded Terex from a “c” rating to a “b-” rating in a research report on Thursday, May 2nd. Bank of America reiterated an “underperform” rating and issued a $28.00 price objective (down from $33.00) on shares of Terex in a research report on Thursday, May 2nd. Finally, Evercore ISI restated an “in-line” rating and issued a $31.00 price target (down from $40.00) on shares of Terex in a research report on Friday, May 31st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.92.
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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.
See Also: Initial Public Offering (IPO)
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