M&T Bank Corp lessened its holdings in Terex Corporation (NYSE:TEX) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,770 shares of the industrial products company’s stock after selling 135 shares during the quarter. M&T Bank Corp’s holdings in Terex Corporation were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TEX. BlackRock Inc. raised its position in Terex Corporation by 11,851.5% in the 1st quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock worth $265,310,000 after purchasing an additional 8,378,659 shares during the period. JPMorgan Chase & Co. raised its position in Terex Corporation by 1,197.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,759,927 shares of the industrial products company’s stock worth $65,999,000 after purchasing an additional 1,624,263 shares during the period. TIAA CREF Investment Management LLC raised its position in Terex Corporation by 51.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,624,339 shares of the industrial products company’s stock worth $135,913,000 after purchasing an additional 1,224,422 shares during the period. 1060 Capital LLC purchased a new position in Terex Corporation in the 2nd quarter worth $25,739,000. Finally, Jennison Associates LLC raised its position in Terex Corporation by 123.1% in the 2nd quarter. Jennison Associates LLC now owns 1,071,708 shares of the industrial products company’s stock worth $40,189,000 after purchasing an additional 591,334 shares during the period. Institutional investors own 97.38% of the company’s stock.

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In related news, insider Steve Filipov sold 4,564 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $38.22, for a total value of $174,436.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kieran Hegarty sold 15,115 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $43.23, for a total transaction of $653,421.45. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 4,264 shares of company stock worth $165,731 and sold 101,679 shares worth $4,098,710. 2.50% of the stock is currently owned by company insiders.

Terex Corporation (NYSE:TEX) opened at 45.82 on Thursday. The firm has a 50-day moving average of $42.13 and a 200 day moving average of $36.98. Terex Corporation has a one year low of $21.88 and a one year high of $46.68. The stock’s market capitalization is $4.10 billion.

Terex Corporation (NYSE:TEX) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business earned $0.64 EPS. The company’s revenue was down 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that Terex Corporation will post $1.15 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.70%. Terex Corporation’s dividend payout ratio is currently -50.79%.

Terex Corporation declared that its Board of Directors has approved a stock buyback plan on Wednesday, September 6th that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

A number of equities analysts recently commented on the stock. UBS AG reiterated a “buy” rating and issued a $52.00 target price (up previously from $44.00) on shares of Terex Corporation in a research report on Wednesday. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Wednesday. Deutsche Bank AG cut shares of Terex Corporation from a “buy” rating to a “hold” rating and decreased their target price for the stock from $44.00 to $43.00 in a research report on Thursday, September 21st. Royal Bank Of Canada reissued a “hold” rating and issued a $38.00 price target on shares of Terex Corporation in a report on Wednesday, September 13th. Finally, OTR Global lowered shares of Terex Corporation to a “positive” rating in a report on Wednesday, September 13th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.71.

About Terex Corporation

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 Corporation (NYSE:TEX)

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