Panagora Asset Management Inc. Trims Stock Holdings in Terex Co. (NYSE:TEX)

Panagora Asset Management Inc. trimmed its position in Terex Co. (NYSE:TEX) by 33.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,074 shares of the industrial products company’s stock after selling 4,547 shares during the period. Panagora Asset Management Inc.’s holdings in Terex were worth $285,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Great West Life Assurance Co. Can grew its stake in Terex by 4.9% in the first quarter. Great West Life Assurance Co. Can now owns 41,450 shares of the industrial products company’s stock worth $1,331,000 after purchasing an additional 1,929 shares during the period. Geode Capital Management LLC boosted its holdings in Terex by 9.7% in the fourth quarter. Geode Capital Management LLC now owns 661,708 shares of the industrial products company’s stock worth $18,242,000 after acquiring an additional 58,616 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Terex by 6.7% in the second quarter. Envestnet Asset Management Inc. now owns 24,983 shares of the industrial products company’s stock worth $784,000 after acquiring an additional 1,565 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Terex by 50.0% in the first quarter. Nordea Investment Management AB now owns 190,432 shares of the industrial products company’s stock worth $6,118,000 after acquiring an additional 63,469 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Terex in the first quarter worth $534,000. 88.31% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on the company. ValuEngine raised Terex from a “strong sell” rating to a “sell” rating in a report on Friday, August 2nd. Barclays reissued a “hold” rating and issued a $33.00 target price on shares of Terex in a report on Monday, July 15th. BMO Capital Markets dropped their target price on Terex to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, July 31st. TheStreet downgraded Terex from a “b-” rating to a “c+” rating in a report on Monday, August 26th. Finally, Evercore ISI reissued an “in-line” rating and issued a $31.00 target price (down from $40.00) on shares of Terex in a report on Friday, May 31st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $33.33.

Shares of NYSE:TEX traded up $0.58 during midday trading on Friday, reaching $27.50. 16,048 shares of the company’s stock traded hands, compared to its average volume of 898,052. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 0.90 and a beta of 1.77. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.43 and a current ratio of 2.21. Terex Co. has a one year low of $22.91 and a one year high of $42.74. The stock has a 50 day moving average of $26.49 and a 200 day moving average of $30.03.

Terex (NYSE:TEX) last announced its quarterly earnings results on Monday, July 29th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.13). The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.32 billion. Terex had a net margin of 0.29% and a return on equity of 27.40%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. Sell-side analysts predict that Terex Co. will post 3.58 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Monday, August 12th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, August 9th. Terex’s payout ratio is currently 16.24%.

About Terex

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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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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