Timber Hill LLC decreased its holdings in shares of Terex Co. (NYSE:TEX) by 35.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,676 shares of the industrial products company’s stock after selling 4,678 shares during the quarter. Timber Hill LLC’s holdings in Terex were worth $418,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in TEX. Oakbrook Investments LLC purchased a new stake in Terex during the third quarter valued at $320,000. Fox Run Management L.L.C. purchased a new stake in Terex during the third quarter valued at $608,000. Aperio Group LLC raised its stake in Terex by 3.5% during the third quarter. Aperio Group LLC now owns 65,079 shares of the industrial products company’s stock valued at $2,930,000 after purchasing an additional 2,205 shares in the last quarter. Liberty Capital Management Inc. purchased a new stake in Terex during the third quarter valued at $1,378,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Terex during the third quarter valued at $677,000. 94.09% of the stock is currently owned by institutional investors.
Shares of Terex Co. (NYSE TEX) opened at $43.70 on Friday. Terex Co. has a 12 month low of $28.67 and a 12 month high of $50.17. The firm has a market cap of $3,470.04, a price-to-earnings ratio of 32.37, a PEG ratio of 1.04 and a beta of 1.71. The company has a quick ratio of 1.53, a current ratio of 2.30 and a debt-to-equity ratio of 0.80.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Friday, March 9th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.40 annualized dividend and a dividend yield of 0.92%. This is an increase from Terex’s previous quarterly dividend of $0.08. Terex’s dividend payout ratio is currently 23.70%.
Terex declared that its board has approved a share buyback program on Wednesday, February 7th that authorizes the company to repurchase $325.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Terex from a “hold” rating to a “strong-buy” rating and set a $50.00 price target on the stock in a research note on Monday, February 19th. TheStreet downgraded shares of Terex from a “b” rating to a “c” rating in a research note on Wednesday, February 14th. Credit Suisse Group decreased their price target on shares of Terex from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Deutsche Bank decreased their price target 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. Finally, Robert W. Baird reissued a “buy” rating and issued a $52.00 target price on shares of Terex in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.00.
In other news, VP Eric I. Cohen sold 10,121 shares of the company’s 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 transaction, the vice president now directly owns 185,897 shares in the company, valued at $9,276,260.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders bought 987 shares of company stock worth $44,638. Company 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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