D. E. Shaw & Co. Inc. reduced its stake in shares of Terex Co. (NYSE:TEX) by 22.5% during the 4th quarter, HoldingsChannel reports. The fund owned 9,939 shares of the industrial products company’s stock after selling 2,878 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Terex were worth $274,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of TEX. TIAA CREF Investment Management LLC lifted its stake in shares of Terex by 116.3% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 6,096,257 shares of the industrial products company’s stock valued at $243,302,000 after purchasing an additional 3,277,715 shares during the last quarter. LSV Asset Management lifted its stake in shares of Terex by 299.3% in the 4th quarter. LSV Asset Management now owns 1,610,086 shares of the industrial products company’s stock valued at $44,390,000 after purchasing an additional 1,206,820 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Terex by 2,657.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 785,745 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 757,245 shares during the last quarter. Prudential PLC lifted its stake in shares of Terex by 8.8% in the 4th quarter. Prudential PLC now owns 2,617,200 shares of the industrial products company’s stock valued at $72,156,000 after purchasing an additional 210,800 shares during the last quarter. Finally, Man Group plc lifted its stake in shares of Terex by 104.9% in the 3rd quarter. Man Group plc now owns 279,004 shares of the industrial products company’s stock valued at $11,135,000 after purchasing an additional 142,857 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.
In other Terex news, insider Steve Filipov sold 10,048 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $35.64, for a total transaction of $358,110.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director International Master F. Marcato sold 1,100,000 shares of the business’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $31.54, for a total transaction of $34,694,000.00. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,619 shares of company stock valued at $53,232. Company insiders own 3.50% of the company’s stock.
Terex (NYSE:TEX) last released its earnings results on Sunday, February 24th. The industrial products company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.01. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. Terex had a net margin of 2.22% and a return on equity of 21.60%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. Equities analysts forecast that Terex Co. will post 3.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were given a dividend of $0.11 per share. This is a positive change from Terex’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 7th. This represents a $0.44 dividend on an annualized basis and a yield of 1.34%. Terex’s payout ratio is currently 16.24%.
TEX has been the subject of several analyst reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Terex in a research note on Tuesday, January 22nd. Zacks Investment Research lowered shares of Terex from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Barclays set a $37.00 price objective on shares of Terex and gave the company a “hold” rating in a research note on Wednesday, January 23rd. Morgan Stanley reaffirmed a “hold” rating on shares of Terex in a research note on Tuesday, February 26th. Finally, Bank of America set a $33.00 price objective on shares of Terex and gave the company a “sell” rating in a research note on Thursday, February 28th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $38.42.
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Terex Company Profile
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
Further Reading: Yield Curve
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