Cramer Rosenthal Mcglynn LLC decreased its stake in shares of Terex Co. (NYSE:TEX) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 803,811 shares of the industrial products company’s stock after selling 126,718 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.96% of Terex worth $38,760,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of Terex by 0.8% during the 3rd quarter. Legal & General Group Plc now owns 172,062 shares of the industrial products company’s stock valued at $7,744,000 after purchasing an additional 1,293 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Terex by 1.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 105,442 shares of the industrial products company’s stock valued at $5,084,000 after purchasing an additional 1,670 shares in the last quarter. Scotia Capital Inc. boosted its stake in shares of Terex by 30.1% during the 4th quarter. Scotia Capital Inc. now owns 8,673 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 2,009 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Terex by 52.9% during the 3rd quarter. Sei Investments Co. now owns 5,812 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 2,012 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Terex by 388.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 2,028 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
Terex Co. (NYSE:TEX) opened at $39.91 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.80. The stock has a market cap of $3,230.00, a PE ratio of 31.67, a price-to-earnings-growth ratio of 1.01 and a beta of 1.76. Terex Co. has a twelve month low of $28.67 and a twelve month high of $50.17.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, March 9th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This is a boost from Terex’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 1.00%. Terex’s payout ratio is 31.75%.
Terex declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 7th that permits the company to repurchase $325.00 million in shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
A number of brokerages have recently weighed in on TEX. Barclays started coverage on shares of Terex in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $50.00 target price on the stock. Deutsche Bank dropped their price objective on shares of Terex from $49.00 to $48.00 and set a “hold” rating on the stock in a research note on Thursday, February 15th. ValuEngine lowered shares of Terex from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research lowered shares of Terex from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, Robert W. Baird lowered shares of Terex from an “outperform” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $45.27.
In other Terex news, VP Eric I. Cohen sold 10,121 shares of Terex stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $49.90, for a total value of $505,037.90. Following the completion of the transaction, the vice president now directly owns 185,897 shares of the company’s stock, valued at $9,276,260.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steve Filipov sold 8,984 shares of Terex stock in a transaction dated Tuesday, February 27th. The stock was 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 acquired 1,044 shares of company stock valued at $44,621 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.
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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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