Terex Co. (NYSE:TEX) Stake Lessened by Profit Investment Management LLC

Profit Investment Management LLC lessened its stake in Terex Co. (NYSE:TEX) by 30.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,126 shares of the industrial products company’s stock after selling 19,868 shares during the period. Terex comprises about 1.9% of Profit Investment Management LLC’s investment portfolio, making the stock its 16th largest position. Profit Investment Management LLC owned approximately 0.07% of Terex worth $2,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Terex by 83.3% in the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after buying an additional 335 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Terex in the second quarter worth $590,000. New Century Financial Group LLC bought a new stake in Terex during the second quarter valued at $275,000. Northwestern Mutual Wealth Management Co. increased its stake in Terex by 15.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,928 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 397 shares during the last quarter. Finally, Creative Planning increased its stake in Terex by 18.5% during the second quarter. Creative Planning now owns 17,334 shares of the industrial products company’s stock valued at $951,000 after purchasing an additional 2,708 shares during the last quarter. Institutional investors own 92.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TEX. JPMorgan Chase & Co. boosted their target price on shares of Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Raymond James began coverage on shares of Terex in a research report on Friday, June 28th. They set a “market perform” rating for the company. Robert W. Baird upped their price target on shares of Terex from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday. Evercore ISI lowered their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Jefferies Financial Group reduced their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $60.60.

Terex Trading Up 1.6 %

TEX stock traded up $0.87 during mid-day trading on Friday, reaching $53.98. 59,030 shares of the stock traded hands, compared to its average volume of 828,360. The company has a current ratio of 2.21, a quick ratio of 1.07 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 market cap of $3.61 billion, a P/E ratio of 7.29, a P/E/G ratio of 4.46 and a beta of 1.53. The stock’s fifty day moving average is $53.26 and its 200-day moving average is $57.18.

Terex (NYSE:TEX) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 EPS. As a group, sell-side analysts expect that Terex Co. will post 5.88 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 9th were issued a $0.17 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. Terex’s dividend payout ratio is 9.33%.

Insider Activity

In other news, Director Andra Rush acquired 2,205 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the acquisition, the director now owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by corporate insiders.

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.