Terex Co. (NYSE:TEX) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its position in Terex Co. (NYSE:TEX) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,103 shares of the industrial products company’s stock after selling 1,535 shares during the period. Texas Permanent School Fund Corp owned about 0.09% of Terex worth $3,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEX. Norges Bank purchased a new position in Terex in the 4th quarter valued at about $42,606,000. HM Payson & Co. purchased a new position in Terex in the 1st quarter valued at about $24,429,000. Curated Wealth Partners LLC lifted its holdings in Terex by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock valued at $9,702,000 after purchasing an additional 353,844 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Terex by 356.0% in the 4th quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock valued at $11,903,000 after purchasing an additional 161,729 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Terex by 42.6% in the 4th quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock valued at $29,926,000 after purchasing an additional 155,706 shares in the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Terex

In related news, Director Andra Rush purchased 2,205 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the transaction, the director now owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

TEX has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Raymond James initiated coverage on shares of Terex in a report on Friday, June 28th. They set a “market perform” rating on the stock. Jefferies Financial Group cut their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. The Goldman Sachs Group increased their price objective on shares of Terex from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Robert W. Baird increased their target price on shares of Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Terex has an average rating of “Hold” and a consensus price target of $63.30.

Terex Stock Up 1.4 %

Shares of NYSE:TEX opened at $51.42 on Monday. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. Terex Co. has a 52-week low of $43.70 and a 52-week high of $68.08. The company has a 50 day moving average of $55.87 and a two-hundred day moving average of $57.94. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 6.81, a price-to-earnings-growth ratio of 3.44 and a beta of 1.53.

Terex (NYSE:TEX) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company earned $2.35 earnings per share. Terex’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, analysts forecast that Terex Co. will post 7.22 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, August 9th. Terex’s payout ratio is currently 9.01%.

Terex Company 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.