Terex Corporation (TEX) Position Trimmed by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. trimmed its position in shares of Terex Corporation (NYSE:TEX) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,758 shares of the industrial products company’s stock after selling 2,060 shares during the period. Ameritas Investment Partners Inc.’s holdings in Terex were worth $1,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its holdings in Terex by 4.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 262 shares in the last quarter. Mirador Capital Partners LP grew its holdings in Terex by 4.5% during the 2nd quarter. Mirador Capital Partners LP now owns 9,118 shares of the industrial products company’s stock worth $360,000 after acquiring an additional 394 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Terex by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 156,347 shares of the industrial products company’s stock worth $5,863,000 after acquiring an additional 492 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Terex by 6.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 8,400 shares of the industrial products company’s stock worth $315,000 after acquiring an additional 500 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in Terex by 3.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 16,758 shares of the industrial products company’s stock worth $628,000 after acquiring an additional 558 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on the stock. KeyCorp reissued a “hold” rating on shares of Terex in a report on Wednesday, November 1st. Barclays assumed coverage on shares of Terex in a report on Tuesday. They set an “equal weight” rating and a $50.00 price objective for the company. OTR Global raised shares of Terex to a “positive” rating in a report on Tuesday, December 5th. Citigroup raised their price objective on shares of Terex from $39.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Finally, ValuEngine lowered shares of Terex from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Terex presently has an average rating of “Hold” and an average target price of $43.64.

In other news, VP Mark I. Clair sold 3,014 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $45.53, for a total value of $137,227.42. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kieran Hegarty sold 15,115 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $43.23, for a total transaction of $653,421.45. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 1,111 shares of company stock worth $50,693 and sold 28,129 shares worth $1,240,649. Company insiders own 2.50% of the company’s stock.

Terex Corporation (NYSE:TEX) traded up $1.51 during trading on Thursday, hitting $48.04. 1,315,000 shares of the stock were exchanged, compared to its average volume of 1,436,524. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.53 and a current ratio of 2.42. Terex Corporation has a one year low of $28.67 and a one year high of $48.86. The company has a market cap of $4,040.00, a P/E ratio of 41.18, a P/E/G ratio of 3.22 and a beta of 1.88.

Terex (NYSE:TEX) last posted its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.14. Terex had a negative net margin of 2.62% and a positive return on equity of 7.01%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. equities analysts expect that Terex Corporation will post 1.29 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th will be given a $0.08 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.67%. Terex’s payout ratio is currently -16.67%.

Terex declared that its board has initiated a share buyback program on Wednesday, September 6th that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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Terex Profile

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.

Institutional Ownership by Quarter for Terex (NYSE:TEX)

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