Baird Financial Group Inc. Reduces Stake in Terex Co. (NYSE:TEX)

Baird Financial Group Inc. lowered its stake in Terex Co. (NYSE:TEXGet Rating) by 51.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,150 shares of the industrial products company’s stock after selling 76,662 shares during the period. Baird Financial Group Inc.’s holdings in Terex were worth $2,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TEX. Crossmark Global Holdings Inc. boosted its position in shares of Terex by 5.7% during the first quarter. Crossmark Global Holdings Inc. now owns 6,294 shares of the industrial products company’s stock valued at $225,000 after buying an additional 340 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Terex by 5.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,900 shares of the industrial products company’s stock valued at $424,000 after buying an additional 569 shares during the period. Texas Permanent School Fund boosted its position in shares of Terex by 1.2% during the second quarter. Texas Permanent School Fund now owns 50,058 shares of the industrial products company’s stock valued at $1,370,000 after buying an additional 573 shares during the period. Xponance Inc. boosted its position in shares of Terex by 5.8% during the second quarter. Xponance Inc. now owns 10,776 shares of the industrial products company’s stock valued at $295,000 after buying an additional 592 shares during the period. Finally, Comerica Bank boosted its position in shares of Terex by 1.1% during the first quarter. Comerica Bank now owns 54,400 shares of the industrial products company’s stock valued at $1,981,000 after buying an additional 607 shares during the period. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Insider Transactions at Terex

In other news, Director Paula H. Cholmondeley sold 20,000 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $41.22, for a total transaction of $824,400.00. Following the transaction, the director now directly owns 32,058 shares of the company’s stock, valued at $1,321,430.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Paula H. Cholmondeley sold 20,000 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $41.22, for a total transaction of $824,400.00. Following the sale, the director now directly owns 32,058 shares of the company’s stock, valued at $1,321,430.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Amy George sold 5,000 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $42.05, for a total transaction of $210,250.00. Following the sale, the vice president now directly owns 109,323 shares in the company, valued at $4,597,032.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,000 shares of company stock valued at $1,884,450. Corporate insiders own 2.90% of the company’s stock.

Terex Stock Performance

Shares of NYSE:TEX opened at $43.92 on Thursday. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 0.60 and a beta of 1.66. Terex Co. has a 52 week low of $26.64 and a 52 week high of $48.50. The company has a quick ratio of 0.93, a current ratio of 1.96 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $35.33 and a 200 day moving average of $33.66.

Terex (NYSE:TEXGet Rating) last issued its quarterly earnings results on Friday, October 28th. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.16. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. Terex had a return on equity of 24.72% and a net margin of 6.36%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. On average, sell-side analysts predict that Terex Co. will post 4.12 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Thursday, November 10th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, November 9th. Terex’s payout ratio is presently 13.58%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley boosted their target price on Terex from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, October 31st. Credit Suisse Group boosted their price target on Terex from $40.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, October 31st. The Goldman Sachs Group boosted their price target on Terex from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 4th. Citigroup boosted their price target on Terex to $45.00 in a report on Tuesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Terex from $61.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, October 13th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Terex presently has an average rating of “Moderate Buy” and an average price target of $45.00.

Terex Company Profile

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Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.

Further Reading

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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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