New York State Teachers Retirement System Decreases Stake in Terex Co. (NYSE:TEX)

New York State Teachers Retirement System lessened its stake in shares of Terex Co. (NYSE:TEXGet Rating) by 15.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 83,601 shares of the industrial products company’s stock after selling 15,122 shares during the period. New York State Teachers Retirement System owned approximately 0.12% of Terex worth $2,486,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TEX. Raymond James & Associates grew its holdings in shares of Terex by 17.7% during the first quarter. Raymond James & Associates now owns 39,745 shares of the industrial products company’s stock valued at $1,417,000 after buying an additional 5,990 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Terex during the first quarter valued at $291,000. PNC Financial Services Group Inc. grew its holdings in shares of Terex by 106.6% during the first quarter. PNC Financial Services Group Inc. now owns 10,369 shares of the industrial products company’s stock valued at $368,000 after buying an additional 5,351 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Terex by 42.6% during the first quarter. Acadian Asset Management LLC now owns 4,984 shares of the industrial products company’s stock valued at $177,000 after buying an additional 1,488 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Terex by 40.1% during the first quarter. MetLife Investment Management LLC now owns 80,649 shares of the industrial products company’s stock valued at $2,876,000 after buying an additional 23,093 shares during the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Insider Transactions at Terex

In other news, VP Scott Posner sold 2,500 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $44.68, for a total transaction of $111,700.00. Following the sale, the vice president now directly owns 62,065 shares of the company’s stock, valued at approximately $2,773,064.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Scott Posner sold 2,500 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $44.68, for a total transaction of $111,700.00. Following the completion of the transaction, the vice president now owns 62,065 shares in the company, valued at approximately $2,773,064.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Amy George sold 5,000 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $42.05, for a total transaction of $210,250.00. Following the transaction, the vice president now owns 109,323 shares of the company’s stock, valued at approximately $4,597,032.15. The disclosure for this sale can be found here. Insiders have sold a total of 47,500 shares of company stock valued at $1,996,150 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Terex Trading Down 2.2 %

TEX stock opened at $47.00 on Wednesday. The company’s 50-day simple moving average is $44.20 and its 200-day simple moving average is $37.26. The company has a quick ratio of 0.93, a current ratio of 1.96 and a debt-to-equity ratio of 0.80. Terex Co. has a 52-week low of $26.64 and a 52-week high of $48.50. The firm has a market cap of $3.17 billion, a P/E ratio of 12.27, a PEG ratio of 0.55 and a beta of 1.66.

Terex (NYSE:TEXGet Rating) last posted its earnings results on Thursday, October 27th. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.15. Terex had a net margin of 6.36% and a return on equity of 24.72%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $0.67 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities analysts forecast that Terex Co. will post 4.12 EPS for the current fiscal year.

Terex declared that its board has authorized a stock repurchase program on Monday, December 19th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

TEX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Terex from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a report on Monday, December 5th. StockNews.com raised shares of Terex from a “hold” rating to a “buy” rating in a report on Monday, October 31st. The Goldman Sachs Group upped their price target on shares of Terex from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, December 15th. Stifel Nicolaus upped their price target on shares of Terex from $50.00 to $54.00 and gave the company a “buy” rating in a report on Monday, December 19th. Finally, Citigroup upped their price target on shares of Terex to $45.00 in a report on Tuesday, November 1st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Terex presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.45.

About Terex

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Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.

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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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