Barrow Hanley Mewhinney & Strauss LLC trimmed its stake in Terex Co. (NYSE:TEX) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,728,529 shares of the industrial products company’s stock after selling 9,594 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 2.27% of Terex worth $64,664,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in TEX. American Century Companies Inc. bought a new stake in Terex in the fourth quarter worth $5,809,000. New Mexico Educational Retirement Board bought a new stake in Terex in the fourth quarter worth $955,000. First Trust Advisors LP bought a new stake in Terex in the fourth quarter worth $1,345,000. The Manufacturers Life Insurance Company boosted its holdings in Terex by 6.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 132,538 shares of the industrial products company’s stock worth $6,390,000 after acquiring an additional 7,530 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Terex by 19.4% in the fourth quarter. Arizona State Retirement System now owns 57,499 shares of the industrial products company’s stock worth $2,773,000 after acquiring an additional 9,339 shares in the last quarter. 98.23% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on the company. Goldman Sachs Group downgraded Terex from a “neutral” rating to a “sell” rating in a report on Wednesday, June 13th. OTR Global downgraded Terex to a “positive” rating in a report on Tuesday, June 5th. Evercore ISI upgraded Terex from an “in-line” rating to an “outperform” rating in a research note on Monday, May 7th. Citigroup decreased their price target on Terex from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, May 4th. Finally, Vertical Research upgraded Terex from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $46.23.
Terex (NYSE:TEX) last posted its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.19. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Terex had a return on equity of 12.83% and a net margin of 3.98%. Terex’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 earnings per share. research analysts anticipate that Terex Co. will post 2.9 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 19th. Investors of record on Friday, June 8th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, June 7th. Terex’s dividend payout ratio (DPR) is presently 29.63%.
In related news, SVP Brian J. Henry sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $42.98, for a total transaction of $214,900.00. Following the completion of the sale, the senior vice president now owns 330,157 shares in the company, valued at $14,190,147.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Mark I. Clair sold 11,737 shares of the company’s stock in a transaction on Thursday, May 3rd. The shares were sold at an average price of $38.33, for a total value of $449,879.21. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 11,343 shares of company stock valued at $419,935. 3.50% of the stock is owned by company insiders.
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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