Wells Fargo & Company MN trimmed its holdings in Terex Co. (NYSE:TEX) by 52.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 387,343 shares of the industrial products company’s stock after selling 433,014 shares during the period. Wells Fargo & Company MN owned 0.46% of Terex worth $18,677,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. First Trust Advisors LP purchased a new stake in shares of Terex in the fourth quarter valued at about $1,345,000. New Mexico Educational Retirement Board purchased a new stake in shares of Terex in the fourth quarter valued at about $955,000. Balter Liquid Alternatives LLC purchased a new stake in shares of Terex in the fourth quarter valued at about $400,000. Lisanti Capital Growth LLC raised its holdings in shares of Terex by 11.1% in the fourth quarter. Lisanti Capital Growth LLC now owns 84,744 shares of the industrial products company’s stock valued at $4,086,000 after buying an additional 8,460 shares during the last quarter. Finally, Landaas & Co. WI ADV raised its holdings in shares of Terex by 602.6% in the fourth quarter. Landaas & Co. WI ADV now owns 3,513 shares of the industrial products company’s stock valued at $169,000 after buying an additional 3,013 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.
In other Terex news, VP Eric I. Cohen sold 10,121 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $49.90, for a total transaction of $505,037.90. Following the transaction, the vice president now directly owns 185,897 shares in the company, valued at $9,276,260.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steve Filipov sold 8,984 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $43.28, for a total transaction of $388,827.52. The disclosure for this sale can be found here. Insiders have acquired 1,044 shares of company stock worth $44,621 over the last 90 days. 2.50% of the stock is currently owned by company insiders.
Terex Co. (TEX) opened at $41.06 on Monday. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.80. Terex Co. has a 1 year low of $28.67 and a 1 year high of $50.17. The firm has a market cap of $3,325.86, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.01 and a beta of 1.76.
Terex (NYSE:TEX) last issued its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.08. Terex had a net margin of 2.95% and a return on equity of 8.80%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $999.18 million. equities analysts anticipate that Terex Co. will post 2.51 EPS for the current fiscal year.
Terex announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that allows the company to repurchase $325.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, March 9th will be given a dividend of $0.10 per share. This is a positive change from Terex’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.97%. The ex-dividend date is Thursday, March 8th. Terex’s dividend payout ratio is presently 29.63%.
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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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