Terex Co. (NYSE:TEX) Stock Position Raised by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its position in Terex Co. (NYSE:TEX) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 351,153 shares of the industrial products company’s stock after buying an additional 8,908 shares during the quarter. Clearbridge Investments LLC’s holdings in Terex were worth $22,614,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TEX. Norges Bank acquired a new stake in Terex in the fourth quarter valued at approximately $42,606,000. Allianz Asset Management GmbH lifted its stake in shares of Terex by 356.0% in the 4th quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock valued at $11,903,000 after purchasing an additional 161,729 shares during the last quarter. First Trust Advisors LP boosted its holdings in Terex by 42.6% in the fourth quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock worth $29,926,000 after purchasing an additional 155,706 shares in the last quarter. International Assets Investment Management LLC increased its position in Terex by 5,549.8% during the fourth quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company’s stock worth $7,366,000 after buying an additional 125,924 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its holdings in Terex by 64.6% during the fourth quarter. Great Lakes Advisors LLC now owns 213,893 shares of the industrial products company’s stock valued at $12,290,000 after buying an additional 83,908 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Activity at Terex

In other Terex news, VP Scott Posner sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the sale, the vice president now owns 58,224 shares in the company, valued at approximately $3,521,387.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the transaction, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at $905,572. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott Posner sold 12,500 shares of Terex stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the sale, the vice president now owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The disclosure for this sale can be found here. Insiders sold 32,929 shares of company stock valued at $1,958,307 over the last ninety days. 1.90% of the stock is owned by insiders.

Terex Stock Performance

NYSE TEX traded down $2.74 during midday trading on Wednesday, hitting $63.08. The company had a trading volume of 1,371,403 shares, compared to its average volume of 811,123. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 8.35 and a beta of 1.57. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $56.77 and a two-hundred day simple moving average of $58.66. Terex Co. has a fifty-two week low of $43.70 and a fifty-two week high of $66.85.

Terex (NYSE:TEX) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.23. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. Terex had a net margin of 9.87% and a return on equity of 30.53%. Equities analysts forecast that Terex Co. will post 7.08 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Thursday, June 6th. Terex’s payout ratio is presently 9.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TEX shares. JPMorgan Chase & Co. upped their price target on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday. Raymond James began coverage on Terex in a research report on Friday, June 28th. They set a “market perform” rating for the company. Citigroup initiated coverage on shares of Terex in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price target on the stock. Robert W. Baird upped their price objective on shares of Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Jefferies Financial Group lowered their target price on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.33.

About Terex

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.