Teachers Retirement System of The State of Kentucky lessened its position in shares of Terex Corporation (NYSE:TEX) by 12.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,510 shares of the industrial products company’s stock after selling 3,200 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Terex Corporation were worth $844,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp grew its holdings in Terex Corporation by 1.5% during the 1st quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock worth $279,000 after acquiring an additional 130 shares in the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Terex Corporation by 8.3% in the 1st quarter. Thrivent Financial For Lutherans now owns 19,920 shares of the industrial products company’s stock valued at $625,000 after buying an additional 1,520 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Terex Corporation by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 170,769 shares of the industrial products company’s stock valued at $6,400,000 after buying an additional 9,152 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Terex Corporation by 13.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the industrial products company’s stock valued at $267,000 after buying an additional 1,014 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Terex Corporation by 7.6% in the 1st quarter. Geode Capital Management LLC now owns 824,753 shares of the industrial products company’s stock valued at $25,897,000 after buying an additional 58,306 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.
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Terex Corporation (NYSE:TEX) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The firm’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. Analysts forecast that Terex Corporation will post $1.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Thursday, November 9th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, November 8th. Terex Corporation’s dividend payout ratio is presently -50.79%.
Terex Corporation declared that its board has approved a share repurchase program on Wednesday, September 6th that allows the company to repurchase $225.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Terex Corporation news, VP Eric I. Cohen sold 3,392 shares of Terex Corporation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $39.23, for a total value of $133,068.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eric I. Cohen sold 10,000 shares of Terex Corporation stock in a transaction on Friday, September 29th. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the transaction, the vice president now directly owns 195,980 shares of the company’s stock, valued at approximately $8,819,100. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 4,264 shares of company stock valued at $165,731 and sold 98,679 shares valued at $3,981,710. Insiders own 2.50% of the company’s stock.
Several research analysts have recently issued reports on the stock. BMO Capital Markets restated a “hold” rating and issued a $35.00 target price on shares of Terex Corporation in a report on Thursday, July 20th. Deutsche Bank AG set a $44.00 target price on shares of Terex Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. UBS AG restated a “buy” rating and issued a $44.00 target price (up previously from $40.00) on shares of Terex Corporation in a report on Wednesday, August 2nd. TheStreet upgraded shares of Terex Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $38.00 target price on shares of Terex Corporation in a report on Wednesday, September 13th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $39.71.
About Terex Corporation
Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.
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