Terex Co. (TEX) Position Lifted by CIBC World Markets Inc.

CIBC World Markets Inc. boosted its holdings in shares of Terex Co. (NYSE:TEX) by 39.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,073 shares of the industrial products company’s stock after purchasing an additional 3,698 shares during the period. CIBC World Markets Inc.’s holdings in Terex were worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of TEX. TCW Group Inc. raised its position in shares of Terex by 0.8% in the third quarter. TCW Group Inc. now owns 2,835,710 shares of the industrial products company’s stock worth $127,664,000 after acquiring an additional 23,301 shares during the period. JPMorgan Chase & Co. raised its position in shares of Terex by 27.4% in the third quarter. JPMorgan Chase & Co. now owns 2,241,830 shares of the industrial products company’s stock worth $100,591,000 after acquiring an additional 481,903 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of Terex by 0.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,332,911 shares of the industrial products company’s stock worth $60,008,000 after acquiring an additional 9,902 shares during the period. Systematic Financial Management LP acquired a new position in shares of Terex in the third quarter worth about $42,612,000. Finally, Prudential Financial Inc. raised its position in shares of Terex by 208.0% in the third quarter. Prudential Financial Inc. now owns 835,582 shares of the industrial products company’s stock worth $37,618,000 after acquiring an additional 564,300 shares during the period. Institutional investors own 95.80% of the company’s stock.

In other Terex news, VP Eric I. Cohen sold 10,121 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $49.90, for a total transaction of $505,037.90. Following the sale, the vice president now directly owns 185,897 shares in the company, valued at approximately $9,276,260.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Mark I. Clair sold 3,014 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $45.53, for a total transaction of $137,227.42. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 987 shares of company stock worth $44,638. 2.50% of the stock is owned by company insiders.

Several research analysts recently weighed in on the stock. Robert W. Baird restated a “buy” rating and set a $52.00 price target on shares of Terex in a research report on Thursday, December 21st. Zacks Investment Research downgraded shares of Terex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Barclays started coverage on shares of Terex in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $50.00 price objective for the company. OTR Global raised shares of Terex to a “positive” rating in a research note on Tuesday, December 5th. Finally, ValuEngine cut shares of Terex from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Terex presently has a consensus rating of “Hold” and an average target price of $44.71.

Shares of Terex Co. (NYSE:TEX) opened at $41.92 on Thursday. The stock has a market cap of $3,612.94, a P/E ratio of 30.91, a price-to-earnings-growth ratio of 1.69 and a beta of 1.71. Terex Co. has a fifty-two week low of $28.67 and a fifty-two week high of $50.17. 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 (NYSE:TEX) last released its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $999.18 million. Terex had a net margin of 2.95% and a return on equity of 8.34%. equities analysts predict that Terex Co. will post 2.26 earnings per share for the current year.

Terex announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 7th that permits the company to repurchase $325.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 8th. This is a positive change from Terex’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.95%. Terex’s dividend payout ratio is 23.70%.

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Terex Company Profile

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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