Terex Co. (NYSE:TEX) Shares Sold by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL trimmed its position in Terex Co. (NYSE:TEX) by 50.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,986 shares of the industrial products company’s stock after selling 4,093 shares during the period. Chesapeake Capital Corp IL’s holdings in Terex were worth $219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Terex during the fourth quarter worth $42,606,000. HM Payson & Co. acquired a new stake in shares of Terex during the first quarter worth $24,429,000. Curated Wealth Partners LLC lifted its stake in shares of Terex by 200.0% during the second quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after buying an additional 353,844 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Terex by 356.0% during the fourth quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock worth $11,903,000 after buying an additional 161,729 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Terex by 42.6% during the fourth quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock worth $29,926,000 after buying an additional 155,706 shares during the period. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup assumed coverage on shares of Terex in a research note on Wednesday, June 26th. They set a “neutral” rating and a $60.00 price objective for the company. UBS Group lifted their price objective on shares of Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Evercore ISI lowered their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Jefferies Financial Group reduced their target price on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Raymond James started coverage on shares of Terex in a report on Friday, June 28th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.30.

Insider Transactions at Terex

In related news, Director Andra Rush bought 2,205 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the purchase, the director now directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Terex Stock Down 1.1 %

TEX opened at $49.92 on Wednesday. Terex Co. has a fifty-two week low of $43.70 and a fifty-two week high of $68.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. The company has a fifty day moving average of $56.06 and a two-hundred day moving average of $58.04. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 6.61, a PEG ratio of 3.38 and a beta of 1.54.

Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $2.35 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, research analysts expect that Terex Co. will post 7.22 earnings per share for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.36%. Terex’s dividend payout ratio is currently 9.01%.

Terex Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.