Comerica Bank Grows Position in Terex Co. (NYSE:TEX)

Comerica Bank raised its position in shares of Terex Co. (NYSE:TEXGet Rating) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,695 shares of the industrial products company’s stock after buying an additional 880 shares during the quarter. Comerica Bank’s holdings in Terex were worth $1,662,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in shares of Terex by 391.9% in the 2nd quarter. Assetmark Inc. now owns 910 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 725 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Terex during the 3rd quarter worth approximately $50,000. Quantbot Technologies LP bought a new stake in shares of Terex during the 1st quarter worth approximately $60,000. Captrust Financial Advisors lifted its stake in shares of Terex by 50.5% during the 2nd quarter. Captrust Financial Advisors now owns 3,071 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 1,030 shares during the last quarter. Finally, CX Institutional bought a new stake in shares of Terex during the 2nd quarter worth approximately $162,000. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Wall Street Analyst Weigh In

TEX has been the subject of a number of research analyst reports. Credit Suisse Group lifted their target price on Terex from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, October 31st. Stifel Nicolaus lifted their target price on Terex from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird lifted their target price on Terex from $37.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, December 13th. JPMorgan Chase & Co. lifted their target price on Terex from $42.00 to $48.00 in a research report on Friday, December 9th. Finally, The Goldman Sachs Group lifted their target price on Terex from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, December 15th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.73.

Terex Stock Up 3.2 %

Shares of TEX stock opened at $46.94 on Friday. Terex Co. has a 1-year low of $26.64 and a 1-year high of $48.51. The stock’s fifty day moving average price is $44.38 and its 200 day moving average price is $37.58. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.96 and a quick ratio of 0.93. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.55 and a beta of 1.66.

Terex (NYSE:TEXGet Rating) last announced its earnings results on Thursday, October 27th. The industrial products company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.15. Terex had a return on equity of 24.72% and a net margin of 6.36%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts expect that Terex Co. will post 4.12 earnings per share for the current fiscal year.

Terex declared that its Board of Directors has initiated a stock buyback plan on Monday, December 19th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Terex

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

Terex Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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