Greenhaven Associates Inc. Trims Stock Holdings in Terex Corporation $TEX

Greenhaven Associates Inc. reduced its holdings in shares of Terex Corporation (NYSE:TEX) by 1.5% in the third quarter, Holdings Channel.com reports. The fund owned 1,477,733 shares of the industrial products company’s stock after selling 22,200 shares during the quarter. Terex comprises about 1.2% of Greenhaven Associates Inc.’s portfolio, making the stock its 15th largest holding. Greenhaven Associates Inc.’s holdings in Terex were worth $75,808,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in Terex in the second quarter worth $24,870,000. JPMorgan Chase & Co. increased its stake in Terex by 68.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 704,844 shares of the industrial products company’s stock worth $32,909,000 after buying an additional 285,186 shares during the period. Millennium Management LLC lifted its holdings in Terex by 1,086.3% during the 1st quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company’s stock valued at $9,674,000 after buying an additional 234,470 shares in the last quarter. Minneapolis Portfolio Management Group LLC lifted its holdings in Terex by 42.6% during the 3rd quarter. Minneapolis Portfolio Management Group LLC now owns 647,289 shares of the industrial products company’s stock valued at $33,206,000 after buying an additional 193,260 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Terex by 55.6% in the 2nd quarter. Bank of America Corp DE now owns 476,510 shares of the industrial products company’s stock valued at $22,248,000 after buying an additional 170,339 shares during the period. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Stock Down 0.8%

Shares of NYSE TEX opened at $57.21 on Friday. Terex Corporation has a 12-month low of $31.53 and a 12-month high of $62.51. The stock’s fifty day simple moving average is $54.45 and its two-hundred day simple moving average is $51.99. The stock has a market capitalization of $3.75 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 5.21 and a beta of 1.67. The company has a current ratio of 2.15, a quick ratio of 1.20 and a debt-to-equity ratio of 1.28.

Terex (NYSE:TEX) last issued its quarterly earnings data on Thursday, October 30th. The industrial products company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.28. Terex had a return on equity of 15.93% and a net margin of 2.92%.The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the business posted $1.46 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, analysts expect that Terex Corporation will post 4.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on TEX shares. UBS Group decreased their price target on shares of Terex from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Morgan Stanley upgraded Terex from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $47.00 to $60.00 in a report on Wednesday, December 10th. Citigroup upped their target price on Terex from $52.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Wells Fargo & Company increased their price target on Terex from $50.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, Raymond James Financial upgraded Terex from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research note on Monday, October 27th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.18.

About Terex

Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.

Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.