Parametric Portfolio Associates LLC Has $13.42 Million Position in Terex Co. (TEX)
Parametric Portfolio Associates LLC lessened its stake in shares of Terex Co. (NYSE:TEX) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,081 shares of the industrial products company’s stock after selling 29,118 shares during the quarter. Parametric Portfolio Associates LLC owned 0.35% of Terex worth $13,420,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. TIAA CREF Investment Management LLC raised its position in Terex by 51.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,624,339 shares of the industrial products company’s stock valued at $135,913,000 after purchasing an additional 1,224,422 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Terex by 6.6% in the 2nd quarter. Alliancebernstein L.P. now owns 3,298,490 shares of the industrial products company’s stock valued at $123,693,000 after buying an additional 202,899 shares during the period. TCW Group Inc. increased its stake in shares of Terex by 0.8% in the 3rd quarter. TCW Group Inc. now owns 2,835,710 shares of the industrial products company’s stock valued at $127,664,000 after buying an additional 23,301 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Terex by 27.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,241,830 shares of the industrial products company’s stock valued at $100,591,000 after buying an additional 481,903 shares during the period. Finally, Teachers Advisors LLC increased its stake in shares of Terex by 14.9% in the 2nd quarter. Teachers Advisors LLC now owns 1,561,990 shares of the industrial products company’s stock valued at $58,575,000 after buying an additional 202,057 shares during the period. Institutional investors and hedge funds own 96.86% of the company’s stock.
Several equities research analysts have recently commented on the company. Robert W. Baird reissued a “buy” rating and issued a $52.00 target price on shares of Terex in a research note on Thursday, December 21st. Zacks Investment Research cut Terex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Barclays assumed coverage on Terex in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $50.00 target price for the company. OTR Global raised Terex to a “positive” rating in a research note on Tuesday, December 5th. Finally, ValuEngine cut Terex from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Terex has a consensus rating of “Hold” and a consensus target price of $44.71.
In other Terex news, VP Mark I. Clair sold 3,014 shares of Terex stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $45.53, for a total transaction of $137,227.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have acquired 1,111 shares of company stock worth $50,693. Corporate insiders own 2.50% of the company’s stock.
Shares of Terex Co. (NYSE TEX) opened at $48.22 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.53 and a current ratio of 2.42. The company has a market capitalization of $4,055.30, a price-to-earnings ratio of -56.07, a P/E/G ratio of 3.33 and a beta of 1.89. Terex Co. has a 52 week low of $28.67 and a 52 week high of $48.90.
Terex (NYSE:TEX) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.14. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.03 billion. Terex had a positive return on equity of 7.01% and a negative net margin of 2.62%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. analysts anticipate that Terex Co. will post 1.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Thursday, November 9th were issued a dividend of $0.08 per share. The ex-dividend date was Wednesday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.66%. Terex’s dividend payout ratio is presently -37.21%.
Terex announced that its Board of Directors has approved a share repurchase plan on Wednesday, September 6th that permits the company to repurchase $225.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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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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