Northpointe Capital LLC reduced its position in shares of Terex Corp. (NYSE:TEX) by 8.8% during the second quarter, Holdings Channel reports. The fund owned 73,455 shares of the company’s stock after selling 7,127 shares during the period. Northpointe Capital LLC’s holdings in Terex Corp. were worth $1,492,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. IBM Retirement Fund increased its stake in shares of Terex Corp. by 1.1% in the second quarter. IBM Retirement Fund now owns 10,682 shares of the company’s stock worth $217,000 after buying an additional 113 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Terex Corp. by 0.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 36,813 shares of the company’s stock worth $748,000 after buying an additional 346 shares during the last quarter. Concorde Asset Management LLC increased its stake in shares of Terex Corp. by 4.4% in the second quarter. Concorde Asset Management LLC now owns 16,675 shares of the company’s stock worth $339,000 after buying an additional 700 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Terex Corp. by 0.6% in the second quarter. Retirement Systems of Alabama now owns 140,863 shares of the company’s stock worth $2,861,000 after buying an additional 828 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Terex Corp. by 13.2% in the second quarter. Creative Planning now owns 8,600 shares of the company’s stock worth $175,000 after buying an additional 1,000 shares during the last quarter. 81.01% of the stock is owned by institutional investors.
Shares of Terex Corp. (NYSE:TEX) traded down 1.93% during trading on Friday, reaching $24.42. The company’s stock had a trading volume of 941,317 shares. Terex Corp. has a 52 week low of $13.62 and a 52 week high of $25.66. The company has a market cap of $2.65 billion, a PE ratio of 49.43 and a beta of 2.93. The stock’s 50 day moving average price is $24.25 and its 200 day moving average price is $23.25.
Terex Corp. (NYSE:TEX) last posted its earnings results on Tuesday, August 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.10. The company earned $1.30 billion during the quarter, compared to analyst estimates of $1.61 billion. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 EPS. Equities research analysts predict that Terex Corp. will post $0.96 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.28 annualized dividend and a dividend yield of 1.15%. Terex Corp.’s payout ratio is currently 57.14%.
Several analysts have issued reports on TEX shares. Zacks Investment Research upgraded Terex Corp. from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, June 28th. Wells Fargo & Co. restated a “buy” rating on shares of Terex Corp. in a report on Wednesday, June 22nd. Barclays PLC cut their price objective on Terex Corp. from $25.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, July 11th. Stifel Nicolaus set a $29.00 price objective on Terex Corp. and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, Bank of America Corp. restated an “underperform” rating on shares of Terex Corp. in a report on Thursday, July 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Terex Corp. has a consensus rating of “Hold” and an average target price of $24.09.
In related news, insider Matthew Fearon sold 3,632 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $24.69, for a total value of $89,674.08. Following the completion of the transaction, the insider now directly owns 111,114 shares in the company, valued at approximately $2,743,404.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brian J. Henry sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $24.29, for a total value of $121,450.00. Following the completion of the transaction, the senior vice president now owns 316,729 shares of the company’s stock, valued at $7,693,347.41. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.
About Terex Corp.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.