Retirement Systems of Alabama lowered its position in shares of Terex Co. (NYSE:TEX) by 5.7% in the fourth quarter, HoldingsChannel reports. The firm owned 103,309 shares of the industrial products company’s stock after selling 6,275 shares during the period. Retirement Systems of Alabama’s holdings in Terex were worth $4,982,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Landaas & Co. WI ADV increased its position in shares of Terex by 602.6% during the 4th quarter. Landaas & Co. WI ADV now owns 3,513 shares of the industrial products company’s stock worth $169,000 after purchasing an additional 3,013 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Terex by 450.2% during the 3rd quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 3,638 shares in the last quarter. Invictus RG increased its position in shares of Terex by 95.4% during the 3rd quarter. Invictus RG now owns 4,618 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 2,255 shares in the last quarter. CAPROCK Group Inc. acquired a new stake in shares of Terex during the 4th quarter worth about $226,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Terex during the 4th quarter worth about $236,000. Institutional investors and hedge funds own 94.09% of the company’s stock.
A number of equities research analysts recently issued reports on TEX shares. KeyCorp reiterated a “hold” rating on shares of Terex in a research report on Wednesday, November 1st. Bank of America lowered their price objective on shares of Terex from $42.00 to $40.00 and set an “underperform” rating for the company in a research report on Wednesday, November 8th. ValuEngine cut shares of Terex from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. OTR Global upgraded shares of Terex to a “positive” rating in a research report on Tuesday, December 5th. Finally, Barclays initiated coverage on shares of Terex in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.00.
Terex (NYSE:TEX) last issued its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the 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 8.80%. sell-side analysts expect that Terex Co. will post 2.56 earnings per share for the current fiscal year.
The firm 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. This represents a $0.40 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, March 8th. This is a positive change from Terex’s previous quarterly dividend of $0.08. Terex’s dividend payout ratio (DPR) is 49.23%.
Terex declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that allows the company to repurchase $325.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, VP Eric I. Cohen sold 10,121 shares of the firm’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 owns 185,897 shares of the company’s stock, valued at approximately $9,276,260.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 987 shares of company stock worth $44,638 in the last ninety days. 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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