CenturyLink Investment Management Co trimmed its position in shares of Terex Co. (NYSE:TEX) by 14.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,414 shares of the industrial products company’s stock after selling 4,648 shares during the period. CenturyLink Investment Management Co’s holdings in Terex were worth $712,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in TEX. BlackRock Inc. raised its stake in shares of Terex by 22.7% in the second quarter. BlackRock Inc. now owns 7,024,611 shares of the industrial products company’s stock valued at $220,572,000 after acquiring an additional 1,301,760 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Terex by 7.7% in the second quarter. Pzena Investment Management LLC now owns 3,471,316 shares of the industrial products company’s stock valued at $108,999,000 after acquiring an additional 248,600 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Terex by 21,369.5% in the second quarter. Nuveen Asset Management LLC now owns 2,886,579 shares of the industrial products company’s stock valued at $90,638,000 after acquiring an additional 2,873,134 shares in the last quarter. Prudential PLC raised its stake in shares of Terex by 0.5% in the second quarter. Prudential PLC now owns 2,558,400 shares of the industrial products company’s stock valued at $80,334,000 after acquiring an additional 11,700 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Terex by 311.5% in the second quarter. Prudential Financial Inc. now owns 1,180,690 shares of the industrial products company’s stock valued at $37,074,000 after acquiring an additional 893,799 shares in the last quarter. Institutional investors own 88.29% of the company’s stock.
Several analysts have recently issued reports on the company. Bank of America reduced their price objective on Terex from $27.00 to $22.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 25th. BMO Capital Markets set a $25.00 target price on Terex and gave the company a “hold” rating in a report on Thursday, October 10th. Citigroup lowered Terex from a “neutral” rating to a “sell” rating and dropped their target price for the company from $27.00 to $24.00 in a report on Tuesday. UBS Group dropped their target price on Terex from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Morgan Stanley dropped their target price on Terex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Terex currently has an average rating of “Hold” and an average price target of $28.92.
NYSE:TEX opened at $25.17 on Thursday. The firm has a market capitalization of $1.79 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 1.09 and a beta of 1.73. The business’s fifty day moving average price is $25.54 and its 200 day moving average price is $28.74. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.21 and a quick ratio of 1.43. Terex Co. has a 12 month low of $22.84 and a 12 month high of $38.57.
Terex (NYSE:TEX) last posted its earnings results on Monday, July 29th. The industrial products company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.13). The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Terex had a net margin of 0.29% and a return on equity of 27.40%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. As a group, equities analysts anticipate that Terex Co. will post 3.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Monday, August 12th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, August 9th. Terex’s payout ratio is 16.24%.
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.
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