Terex Corporation (TEX) Position Reduced by Nationwide Fund Advisors

Nationwide Fund Advisors lowered its position in shares of Terex Corporation (NYSE:TEX) by 20.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,217 shares of the industrial products company’s stock after selling 35,792 shares during the period. Nationwide Fund Advisors owned 0.16% of Terex worth $6,448,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Sei Investments Co. grew its stake in Terex by 19.5% in the 2nd quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after buying an additional 619 shares in the last quarter. Clear Perspective Advisors LLC purchased a new position in Terex in the 2nd quarter worth approximately $198,000. CIBC World Markets Inc. purchased a new position in Terex in the 2nd quarter worth approximately $210,000. National Planning Corp purchased a new position in Terex in the 2nd quarter worth approximately $209,000. Finally, PNC Financial Services Group Inc. grew its stake in Terex by 4.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock worth $220,000 after buying an additional 262 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Shares of Terex Corporation (NYSE TEX) traded up $0.53 on Tuesday, hitting $46.85. 1,818,200 shares of the stock were exchanged, compared to its average volume of 1,439,528. The company has a market cap of $3,895.51, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 3.20 and a beta of 1.88. The company has a current ratio of 2.42, a quick ratio of 1.53 and a debt-to-equity ratio of 0.71. Terex Corporation has a 1 year low of $28.67 and a 1 year high of $48.86.

Terex (NYSE:TEX) last posted its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.14. Terex had a negative net margin of 2.62% and a positive return on equity of 7.01%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $0.19 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. equities research analysts forecast that Terex Corporation will post 1.29 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Thursday, November 9th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.68%. Terex’s dividend payout ratio is currently -37.21%.

Terex declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 6th that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 6.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

TEX has been the subject of a number of research reports. Bank of America cut their price target on shares of Terex from $42.00 to $40.00 and set an “underperform” rating for the company in a research note on Wednesday, November 8th. KeyCorp reissued a “hold” rating on shares of Terex in a research note on Wednesday, November 1st. OTR Global upgraded shares of Terex to a “positive” rating in a report on Tuesday, December 5th. Deutsche Bank lowered shares of Terex from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $44.00 to $43.00 in a report on Thursday, September 21st. Finally, Wells Fargo & Company set a $52.00 price objective on shares of Terex and gave the stock a “buy” rating in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.93.

In related news, VP Mark I. Clair sold 3,014 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $45.53, for a total transaction of $137,227.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Eric I. Cohen sold 10,000 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. Following the sale, the vice president now owns 195,980 shares of the company’s stock, valued at $8,819,100. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,111 shares of company stock valued at $50,693 and have sold 30,811 shares valued at $1,356,109. Corporate insiders own 2.50% of the company’s stock.

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About Terex

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.

Institutional Ownership by Quarter for Terex (NYSE:TEX)

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