Tokio Marine Asset Management Co. Ltd. cut its position in Terex Corporation (NYSE:TEX) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,300 shares of the industrial products company’s stock after selling 8,700 shares during the quarter. Tokio Marine Asset Management Co. Ltd. owned approximately 0.11% of Terex Corporation worth $4,380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TEX. BlackRock Inc. raised its stake in Terex Corporation by 11,851.5% during the 1st quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock valued at $265,310,000 after acquiring an additional 8,378,659 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Terex Corporation by 1,197.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,759,927 shares of the industrial products company’s stock worth $65,999,000 after buying an additional 1,624,263 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Terex Corporation by 51.0% during 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 buying an additional 1,224,422 shares in the last quarter. 1060 Capital LLC purchased a new position in shares of Terex Corporation during the 2nd quarter worth approximately $25,739,000. Finally, Jennison Associates LLC raised its stake in shares of Terex Corporation by 123.1% during the 2nd quarter. Jennison Associates LLC now owns 1,071,708 shares of the industrial products company’s stock worth $40,189,000 after buying an additional 591,334 shares in the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

TEX has been the subject of several research analyst reports. KeyCorp reaffirmed a “hold” rating on shares of Terex Corporation in a research note on Wednesday. Zacks Investment Research raised Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Thursday, July 13th. Deutsche Bank AG downgraded Terex Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the company from $44.00 to $43.00 in a research note on Thursday, September 21st. OTR Global downgraded Terex Corporation to a “positive” rating in a research note on Wednesday, September 13th. Finally, Wells Fargo & Company set a $52.00 target price on Terex Corporation and gave the company a “buy” rating in a report on Monday, October 16th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.43.

In other Terex Corporation news, insider Kevin A. Barr sold 15,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $38.92, for a total transaction of $583,800.00. Following the sale, the insider now directly owns 143,304 shares of the company’s stock, valued at $5,577,391.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Eric I. Cohen sold 10,000 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. Following the sale, the vice president now directly owns 195,980 shares in the company, valued at $8,819,100. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,881 shares of company stock valued at $150,935 and sold 98,679 shares valued at $3,981,710. Corporate insiders own 2.50% of the company’s stock.

Terex Corporation (NYSE:TEX) last released its earnings results on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.14. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.03 billion. Terex Corporation had a negative net margin of 2.62% and a positive return on equity of 6.78%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Thursday, November 9th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, November 8th. Terex Corporation’s dividend payout ratio (DPR) is presently -37.21%.

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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.

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Institutional Ownership by Quarter for Terex Corporation (NYSE:TEX)

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