Retirement Systems of Alabama Increases Stock Position in Terex Co. (NYSE:TEX)

Retirement Systems of Alabama lifted its holdings in shares of Terex Co. (NYSE:TEX) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,150 shares of the industrial products company’s stock after acquiring an additional 3,656 shares during the period. Retirement Systems of Alabama owned 0.12% of Terex worth $2,211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TEX. Point72 Hong Kong Ltd acquired a new stake in shares of Terex during the second quarter worth $72,000. Pearl River Capital LLC acquired a new stake in shares of Terex during the second quarter worth $83,000. Investors Research Corp lifted its holdings in shares of Terex by 16.2% during the second quarter. Investors Research Corp now owns 4,300 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 600 shares during the period. First Mercantile Trust Co. lifted its holdings in shares of Terex by 32.1% during the second quarter. First Mercantile Trust Co. now owns 4,610 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 1,120 shares during the period. Finally, Dupont Capital Management Corp lifted its holdings in shares of Terex by 72.3% during the second quarter. Dupont Capital Management Corp now owns 6,435 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 2,700 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.

TEX has been the subject of several recent research reports. Royal Bank of Canada set a $35.00 price target on Terex and gave the stock a “hold” rating in a report on Wednesday, July 31st. Citigroup downgraded Terex from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $27.00 to $24.00 in a report on Tuesday, October 15th. Wells Fargo & Co decreased their price target on Terex from $35.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. Cfra downgraded Terex from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. downgraded Terex from an “overweight” rating to a “neutral” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Terex presently has an average rating of “Hold” and a consensus price target of $29.15.

Terex stock opened at $30.29 on Friday. Terex Co. has a one year low of $22.84 and a one year high of $38.57. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.28 and a current ratio of 2.21. The business has a fifty day moving average of $26.66 and a two-hundred day moving average of $28.18. The company has a market cap of $2.04 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.77.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Terex (NYSE:TEX) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). Terex had a negative net margin of 0.07% and a positive return on equity of 29.17%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the business posted $1.08 EPS. Terex’s revenue was down 6.8% compared to the same quarter last year. Sell-side analysts predict that Terex Co. will post 3.08 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, November 7th. Terex’s dividend payout ratio (DPR) is presently 16.24%.

In other news, insider Matthew Fearon sold 26,000 shares of Terex stock in a transaction on Friday, November 1st. The stock was sold at an average price of $28.24, for a total transaction of $734,240.00. Following the completion of the transaction, the insider now owns 92,702 shares of the company’s stock, valued at approximately $2,617,904.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 1,651 shares of company stock valued at $41,542 in the last ninety days. Corporate insiders own 4.00% of the company’s stock.

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.

Further Reading: How Important is Technical Analysis of Stocks

Institutional Ownership by Quarter for Terex (NYSE:TEX)

Leave a Reply

Your email address will not be published. Required fields are marked *

*