HM Payson & Co. Sells 170,280 Shares of Terex Co. (NYSE:TEX)

HM Payson & Co. lowered its holdings in shares of Terex Co. (NYSE:TEX) by 40.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 246,170 shares of the industrial products company’s stock after selling 170,280 shares during the period. HM Payson & Co. owned approximately 0.37% of Terex worth $13,025,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TEX. Blue Trust Inc. increased its position in Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after buying an additional 187 shares during the last quarter. GAMMA Investing LLC increased its position in Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after buying an additional 335 shares in the last quarter. FinTrust Capital Advisors LLC boosted its stake in Terex by 202.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 465 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Terex in the 2nd quarter worth $109,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Terex in the 2nd quarter worth $111,000. Institutional investors own 92.88% of the company’s stock.

Terex Price Performance

Shares of TEX traded down $0.18 during trading hours on Thursday, hitting $51.35. 15,545 shares of the stock were exchanged, compared to its average volume of 822,255. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. Terex Co. has a 12-month low of $44.38 and a 12-month high of $68.08. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 4.47 and a beta of 1.53. The stock’s 50-day moving average price is $53.41 and its two-hundred day moving average price is $56.20.

Terex (NYSE:TEX) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.19. Terex had a return on equity of 27.89% and a net margin of 9.55%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business earned $1.75 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. Research analysts expect that Terex Co. will post 5.89 earnings per share for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s payout ratio is 9.33%.

Insider Buying and Selling

In other news, Director Andra Rush bought 2,205 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $54.36 per share, with a total value of $119,863.80. Following the purchase, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TEX shares. JPMorgan Chase & Co. cut their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, October 14th. The Goldman Sachs Group lowered their price target on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Robert W. Baird decreased their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday. Jefferies Financial Group decreased their target price on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Citigroup decreased their price target on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.22.

Terex Company Profile

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.