HighTower Advisors LLC Decreases Stake in Terex Co. (NYSE:TEX)

HighTower Advisors LLC lessened its stake in shares of Terex Co. (NYSE:TEX) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,488 shares of the industrial products company’s stock after selling 1,413 shares during the quarter. HighTower Advisors LLC owned approximately 0.14% of Terex worth $5,132,000 at the end of the most recent quarter.

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

Terex Trading Down 3.7 %

Shares of NYSE TEX opened at $50.60 on Wednesday. The firm’s 50 day moving average price is $53.67 and its 200-day moving average price is $54.77. Terex Co. has a 52-week low of $48.11 and a 52-week high of $68.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. The company has a market cap of $3.38 billion, a PE ratio of 7.39, a P/E/G ratio of 4.28 and a beta of 1.53.

Terex (NYSE:TEX) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned $1.75 EPS. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities research analysts expect that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.34%. Terex’s dividend payout ratio (DPR) is presently 9.93%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup decreased their price objective 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. JPMorgan Chase & Co. decreased their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Evercore ISI cut their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. The Goldman Sachs Group reduced their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Finally, Robert W. Baird decreased their target price on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Terex currently has an average rating of “Hold” and an average target price of $59.56.

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.