Putnam Investments LLC Lowers Position in Terex Co. (NYSE:TEX)

Putnam Investments LLC trimmed its position in shares of Terex Co. (NYSE:TEX – Get Rating) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,230 shares of the industrial products company’s stock after selling 1,094 shares during the quarter. Putnam Investments LLC owned 0.09% of Terex worth $1,792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of Terex by 130.6% during the 3rd quarter. Bessemer Group Inc. now owns 934 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 529 shares in the last quarter. PrairieView Partners LLC purchased a new stake in Terex during the third quarter worth $30,000. Quadrant Capital Group LLC raised its holdings in shares of Terex by 318.6% in the third quarter. Quadrant Capital Group LLC now owns 1,666 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 1,268 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of Terex in the third quarter worth $50,000. Finally, Quantbot Technologies LP acquired a new position in Terex in the first quarter valued at $60,000. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on TEX shares. The Goldman Sachs Group increased their price target on Terex from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, December 15th. Robert W. Baird raised their price objective on Terex from $37.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 13th. TheStreet raised Terex from a “c+” rating to a “b” rating in a research report on Thursday, February 9th. KeyCorp increased their price objective on Terex from $56.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, February 13th. Finally, JPMorgan Chase & Co. increased their price objective on Terex from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 13th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.00.

Insider Buying and Selling

In related news, CAO Stephen Johnston sold 2,428 shares of the business’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $55.51, for a total transaction of $134,778.28. Following the sale, the chief accounting officer now owns 12,340 shares in the company, valued at approximately $684,993.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Stephen Johnston sold 2,428 shares of the business’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $55.51, for a total transaction of $134,778.28. Following the sale, the chief accounting officer now owns 12,340 shares in the company, valued at approximately $684,993.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy George sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $56.00, for a total value of $280,000.00. Following the sale, the vice president now owns 103,172 shares in the company, valued at approximately $5,777,632. The disclosure for this sale can be found here. Insiders have sold 374,481 shares of company stock worth $21,446,276 in the last 90 days. Insiders own 2.50% of the company’s stock.

Terex Trading Down 7.6 %

Shares of TEX opened at $53.23 on Monday. Terex Co. has a 52-week low of $26.64 and a 52-week high of $60.85. The business’s fifty day moving average is $51.94 and its 200-day moving average is $43.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.96. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 0.58 and a beta of 1.67.

Terex (NYSE:TEX – Get Rating) last issued its quarterly earnings results on Friday, February 10th. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.21. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.10 billion. Terex had a return on equity of 27.44% and a net margin of 6.79%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. Equities analysts anticipate that Terex Co. will post 4.89 EPS for the current fiscal year.

Terex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Thursday, March 9th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, March 8th. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Terex’s previous quarterly dividend of $0.13. Terex’s payout ratio is currently 13.82%.

Terex declared that its Board of Directors has approved a stock buyback program on Monday, December 19th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Terex Company Profile

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Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. It operates through the Material Processing and Aerial Work Platforms segments. The Materials Processing segment designs, manufactures, services and markets materials processing and equipment, including crushers, washing systems, screens, 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 their related components and replacement parts.