State of New Jersey Common Pension Fund D Sells 4,798 Shares of Terex Co. (NYSE:TEX)

State of New Jersey Common Pension Fund D lessened its holdings in Terex Co. (NYSE:TEXGet Rating) by 6.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 66,887 shares of the industrial products company’s stock after selling 4,798 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Terex were worth $1,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank grew its stake in shares of Terex by 1.8% in the 3rd quarter. Comerica Bank now owns 48,695 shares of the industrial products company’s stock valued at $1,662,000 after purchasing an additional 880 shares during the period. Chartwell Investment Partners LLC boosted its stake in Terex by 3.6% in the third quarter. Chartwell Investment Partners LLC now owns 20,262 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 709 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in Terex during the 3rd quarter worth about $50,000. Janney Montgomery Scott LLC bought a new stake in shares of Terex during the third quarter valued at approximately $218,000. Finally, KG&L Capital Management LLC acquired a new stake in shares of Terex in the third quarter valued at approximately $213,000. 87.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TEX shares. Robert W. Baird upped their price target on Terex from $37.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, December 13th. Morgan Stanley boosted their price target on shares of Terex from $35.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 14th. Citigroup raised their price objective on shares of Terex to $45.00 in a research note on Tuesday, November 1st. Credit Suisse Group upped their target price on shares of Terex from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on Terex from $42.00 to $48.00 in a research report on Friday, December 9th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.45.

Insider Transactions at Terex

In related news, VP Scott Posner sold 2,500 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $44.68, for a total value of $111,700.00. Following the completion of the transaction, the vice president now owns 62,065 shares of the company’s stock, valued at $2,773,064.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Scott Posner sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $44.68, for a total value of $111,700.00. Following the completion of the transaction, the vice president now owns 62,065 shares in the company, valued at approximately $2,773,064.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paula H. Cholmondeley sold 20,000 shares of Terex stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $41.22, for a total value of $824,400.00. Following the completion of the sale, the director now directly owns 32,058 shares in the company, valued at approximately $1,321,430.76. The disclosure for this sale can be found here. Insiders have sold a total of 47,500 shares of company stock valued at $1,996,150 over the last 90 days. 2.50% of the stock is owned by corporate insiders.

Terex Trading Down 3.9 %

Shares of NYSE:TEX opened at $45.50 on Friday. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.55 and a beta of 1.66. Terex Co. has a 12 month low of $26.64 and a 12 month high of $48.51. The company’s fifty day simple moving average is $44.35 and its 200 day simple moving average is $37.39. The company has a quick ratio of 0.93, a current ratio of 1.96 and a debt-to-equity ratio of 0.80.

Terex (NYSE:TEXGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The industrial products company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Terex had a return on equity of 24.72% and a net margin of 6.36%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 earnings per share. As a group, research analysts forecast that Terex Co. will post 4.12 EPS for the current fiscal year.

Terex declared that its board has authorized a stock repurchase plan on Monday, December 19th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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

Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Co. (NYSE:TEXGet Rating).

Institutional Ownership by Quarter for Terex (NYSE:TEX)

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