Teachers Retirement System of The State of Kentucky cut its stake in Terex Co. (NYSE:TEX) by 4.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 23,000 shares of the industrial products company’s stock after selling 1,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Terex were worth $725,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of TEX. Fisher Asset Management LLC boosted its stake in Terex by 3.5% in the third quarter. Fisher Asset Management LLC now owns 441,605 shares of the industrial products company’s stock valued at $11,221,000 after buying an additional 15,043 shares during the period. Creative Planning boosted its stake in Terex by 3.1% in the third quarter. Creative Planning now owns 8,864 shares of the industrial products company’s stock valued at $225,000 after buying an additional 264 shares during the period. Nisa Investment Advisors LLC boosted its stake in Terex by 0.8% in the third quarter. Nisa Investment Advisors LLC now owns 76,620 shares of the industrial products company’s stock valued at $1,947,000 after buying an additional 600 shares during the period. Bank of Montreal Can boosted its stake in Terex by 2.6% in the third quarter. Bank of Montreal Can now owns 45,323 shares of the industrial products company’s stock valued at $1,152,000 after buying an additional 1,160 shares during the period. Finally, Oakbrook Investments LLC bought a new stake in Terex during the third quarter valued at $254,000. Institutional investors and hedge funds own 84.32% of the company’s stock.
Shares of Terex Co. (NYSE:TEX) remained flat at $32.45 during mid-day trading on Friday. 1,197,612 shares of the company were exchanged. Terex Co. has a one year low of $18.91 and a one year high of $33.87. The stock’s market cap is $3.44 billion. The firm has a 50 day moving average price of $31.13 and a 200-day moving average price of $29.78.
Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. Terex had a net margin of 2.01% and a return on equity of 7.39%. The firm had revenue of $974.70 million for the quarter, compared to analysts’ expectations of $918.81 million. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. On average, analysts predict that Terex Co. will post $0.82 EPS for the current year.
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Several research firms have recently weighed in on TEX. Credit Suisse Group AG set a $38.00 price objective on shares of Terex and gave the company a “buy” rating in a research report on Saturday, February 25th. Citigroup Inc began coverage on shares of Terex in a research report on Monday, February 6th. They issued a “neutral” rating and a $36.00 target price on the stock. Zacks Investment Research cut shares of Terex from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. BMO Capital Markets reiterated a “hold” rating and issued a $35.00 target price on shares of Terex in a research report on Thursday. Finally, Barclays PLC lifted their target price on shares of Terex from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.06.
In other news, insider Steve Filipov sold 5,215 shares of Terex stock in a transaction on Friday, February 24th. The stock was sold at an average price of $30.14, for a total transaction of $157,180.10. Following the transaction, the insider now owns 137,425 shares in the company, valued at approximately $4,141,989.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director G Chris Andersen sold 10,000 shares of Terex stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $31.06, for a total value of $310,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 472 shares of company stock worth $14,999 and have sold 60,215 shares worth $1,880,330. Insiders own 3.70% of the company’s stock.
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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