Terex Co. (NYSE:TEX) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Terex Co. (NYSE:TEX) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,400 shares of the industrial products company’s stock after selling 1,095 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Terex were worth $815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in shares of Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after buying an additional 285,750 shares during the period. American Century Companies Inc. boosted its holdings in Terex by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after acquiring an additional 269,777 shares during the period. Millennium Management LLC grew its position in Terex by 169.0% in the second quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock valued at $14,526,000 after acquiring an additional 166,429 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Terex by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock valued at $154,224,000 after purchasing an additional 109,885 shares during the period. Finally, Foundry Partners LLC acquired a new position in shares of Terex during the third quarter worth $3,881,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEX has been the subject of a number of recent analyst reports. Citigroup lowered their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Robert W. Baird dropped their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Evercore ISI reduced their price target on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. dropped their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, The Goldman Sachs Group cut their target price on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.56.

Terex Stock Performance

TEX stock opened at $52.94 on Friday. The stock’s 50 day simple moving average is $53.70 and its 200 day simple moving average is $54.99. Terex Co. has a 12-month low of $48.11 and a 12-month high of $68.08. The firm has a market cap of $3.54 billion, a P/E ratio of 7.73, a P/E/G ratio of 4.45 and a beta of 1.53. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned $1.75 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. As a group, equities research analysts predict that Terex Co. will post 6.07 EPS for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio (DPR) is presently 9.93%.

Terex Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, 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 related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.