Ensign Peak Advisors Inc Sells 1,780 Shares of Terex Co. (NYSE:TEX)

Ensign Peak Advisors Inc decreased its stake in shares of Terex Co. (NYSE:TEXGet Rating) by 6.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,691 shares of the industrial products company’s stock after selling 1,780 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Terex were worth $794,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bessemer Group Inc. increased its stake in Terex by 130.6% in the third quarter. Bessemer Group Inc. now owns 934 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 529 shares during the period. Teacher Retirement System of Texas increased its stake in Terex by 4.9% in the third quarter. Teacher Retirement System of Texas now owns 11,389 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 536 shares during the period. Texas Permanent School Fund increased its stake in Terex by 1.2% in 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 acquiring an additional 573 shares during the period. New York State Common Retirement Fund increased its stake in Terex by 1.0% in the third quarter. New York State Common Retirement Fund now owns 67,206 shares of the industrial products company’s stock valued at $1,999,000 after acquiring an additional 639 shares during the period. Finally, AXA S.A. increased its stake in Terex by 0.5% in the third quarter. AXA S.A. now owns 128,200 shares of the industrial products company’s stock valued at $3,813,000 after acquiring an additional 700 shares during the period. Institutional investors own 87.37% of the company’s stock.

Terex Trading Down 4.0 %

Shares of NYSE TEX opened at $51.12 on Tuesday. The company’s 50 day simple moving average is $51.94 and its 200 day simple moving average is $43.02. Terex Co. has a fifty-two week low of $26.64 and a fifty-two week high of $60.85. The firm has a market capitalization of $3.45 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.58 and a beta of 1.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.96 and a quick ratio of 0.97.

Terex (NYSE:TEXGet Rating) last announced its quarterly earnings data on Friday, February 10th. The industrial products company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.21. Terex had a net margin of 6.79% and a return on equity of 27.44%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $0.82 earnings per share. Terex’s revenue was up 23.0% compared to the same quarter last year. On average, analysts predict that Terex Co. will post 4.89 EPS for the current year.

Terex announced that its Board of Directors has initiated a stock buyback program on Monday, December 19th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Terex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Shareholders of record on Thursday, March 9th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.17%. The ex-dividend date is Wednesday, March 8th. This is an increase from Terex’s previous quarterly dividend of $0.13. Terex’s dividend payout ratio is presently 13.82%.

Insider Buying and Selling at Terex

In other Terex news, CAO Stephen Johnston sold 2,428 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $55.51, for a total value of $134,778.28. Following the completion of the sale, the chief accounting officer now owns 12,340 shares of the company’s stock, valued at $684,993.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Terex news, Director David A. Sachs sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $55.50, for a total value of $721,500.00. Following the completion of the sale, the director now owns 394,994 shares of the company’s stock, valued at $21,922,167. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephen Johnston sold 2,428 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $55.51, for a total transaction of $134,778.28. Following the sale, the chief accounting officer now directly owns 12,340 shares of the company’s stock, valued at approximately $684,993.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 374,481 shares of company stock valued at $21,446,276. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TEX shares. Robert W. Baird upped their target price on shares of 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 $52.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, February 13th. TheStreet upgraded shares of Terex from a “c+” rating to a “b” rating in a research report on Thursday, February 9th. Citigroup lowered shares of Terex from a “buy” rating to a “neutral” rating and boosted their price target for the company from $45.00 to $63.00 in a research report on Wednesday, February 15th. Finally, KeyCorp boosted their price target on shares of Terex from $56.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, February 13th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Terex presently has a consensus rating of “Hold” and an average price target of $54.00.

Terex Profile

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Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. It operates through the Material Processing and Aerial Work Platforms segments. The Materials Processing segment designs, manufactures, services and markets materials processing and equipment, including crushers, washing systems, screens, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and their related components and replacement parts.

See Also

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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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