Retirement Systems of Alabama decreased its position in shares of Terex Co. (NYSE:TEX) by 4.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 80,645 shares of the industrial products company’s stock after selling 3,445 shares during the quarter. Retirement Systems of Alabama owned approximately 0.11% of Terex worth $2,591,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its position in shares of Terex by 2,657.0% during the fourth 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 in the last quarter. AdvisorNet Financial Inc bought a new stake in shares of Terex during the fourth quarter valued at approximately $40,000. NumerixS Investment Technologies Inc bought a new stake in shares of Terex during the fourth quarter valued at approximately $49,000. Financial Architects Inc bought a new stake in shares of Terex during the fourth quarter valued at approximately $69,000. Finally, Belpointe Asset Management LLC bought a new stake in Terex in the third quarter worth $144,000. Institutional investors own 94.90% of the company’s stock.
In other news, Director International Master F. Marcato sold 1,100,000 shares of the company’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $31.54, for a total value of $34,694,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steve Filipov sold 10,048 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $35.64, for a total value of $358,110.72. The disclosure for this sale can be found here. Insiders have acquired 1,650 shares of company stock valued at $53,474 in the last three months. 4.00% of the stock is currently owned by corporate insiders.
TEX has been the topic of several analyst reports. Credit Suisse Group reissued a “buy” rating and issued a $37.00 target price on shares of Terex in a report on Tuesday, January 22nd. Barclays set a $37.00 target price on Terex and gave the stock a “hold” rating in a report on Wednesday, January 23rd. Wells Fargo & Co boosted their target price on Terex from $32.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, February 26th. Morgan Stanley reissued a “hold” rating on shares of Terex in a report on Tuesday, February 26th. Finally, Bank of America set a $33.00 target price on Terex and gave the stock a “sell” rating in a report on Thursday, February 28th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Terex presently has an average rating of “Hold” and an average price target of $36.33.
Terex stock traded down $0.02 during mid-day trading on Wednesday, reaching $28.69. 712,300 shares of the stock traded hands, compared to its average volume of 1,032,693. The stock has a market cap of $2.03 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 0.80 and a beta of 1.60. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.41 and a current ratio of 2.27. Terex Co. has a 12-month low of $25.47 and a 12-month high of $45.47.
Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.30. Terex had a positive return on equity of 25.38% and a negative net margin of 0.06%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. Terex’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that Terex Co. will post 4.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, June 6th. Terex’s dividend payout ratio is presently 16.24%.
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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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