TCW Group Inc. trimmed its holdings in shares of Terex Co. (NYSE:TEX) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,482,482 shares of the industrial products company’s stock after selling 353,228 shares during the period. TCW Group Inc. owned about 2.95% of Terex worth $119,705,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in Terex by 388.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the industrial products company’s stock valued at $123,000 after buying an additional 2,028 shares in the last quarter. Landaas & Co. WI ADV lifted its position in Terex by 602.6% during the fourth quarter. Landaas & Co. WI ADV now owns 3,513 shares of the industrial products company’s stock valued at $169,000 after buying an additional 3,013 shares in the last quarter. Pacer Advisors Inc. lifted its position in Terex by 450.2% during the third quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock valued at $200,000 after buying an additional 3,638 shares in the last quarter. Invictus RG lifted its position in Terex by 95.4% during the third quarter. Invictus RG now owns 4,618 shares of the industrial products company’s stock valued at $208,000 after buying an additional 2,255 shares in the last quarter. Finally, CAPROCK Group Inc. acquired a new position in Terex during the fourth quarter valued at approximately $226,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
Terex Co. (NYSE:TEX) opened at $39.75 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.36 and a current ratio of 2.30. The company has a market cap of $3,220.00, a price-to-earnings ratio of 31.55, a PEG ratio of 1.01 and a beta of 1.76. Terex Co. has a 12-month low of $28.67 and a 12-month high of $50.17.
Terex (NYSE:TEX) last issued its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $999.18 million. Terex had a net margin of 2.95% and a return on equity of 8.80%. research analysts anticipate that Terex Co. will post 2.51 EPS for the current year.
Terex announced that its board has authorized a stock repurchase plan on Wednesday, February 7th that allows the company to buyback $325.00 million in shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, March 8th. This is a positive change from Terex’s previous quarterly dividend of $0.08. Terex’s payout ratio is 31.75%.
In related news, VP Eric I. Cohen sold 10,121 shares of Terex stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $49.90, for a total value of $505,037.90. Following the completion of the sale, the vice president now owns 185,897 shares in the company, valued at $9,276,260.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steve Filipov sold 8,984 shares of Terex stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $43.28, for a total transaction of $388,827.52. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 1,044 shares of company stock valued at $44,621. Insiders own 2.50% of the company’s stock.
TEX has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Terex from a “hold” rating to a “strong-buy” rating and set a $50.00 price target on the stock in a research report on Monday, February 19th. Deutsche Bank reduced their price target on shares of Terex from $49.00 to $48.00 and set a “hold” rating on the stock in a research report on Thursday, February 15th. Robert W. Baird reissued a “buy” rating and set a $52.00 target price on shares of Terex in a research report on Thursday, December 21st. OTR Global raised shares of Terex to a “positive” rating in a research report on Tuesday, December 5th. Finally, TheStreet cut shares of Terex from a “b” rating to a “c” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $45.27.
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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.
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