Charles Schwab Investment Management Inc. Sells 753 Shares of Terex Co. (NYSE:TEX)

Charles Schwab Investment Management Inc. reduced its stake in Terex Co. (NYSE:TEX) by 0.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 906,129 shares of the industrial products company’s stock after selling 753 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Terex were worth $43,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in TEX. Raymond James & Associates boosted its stake in shares of Terex by 17.7% in 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 period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Terex in the first quarter valued at approximately $291,000. PNC Financial Services Group Inc. boosted its stake in shares of Terex by 106.6% in 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 period. Acadian Asset Management LLC boosted its stake in shares of Terex by 42.6% in 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 period. Finally, MetLife Investment Management LLC boosted its stake in shares of Terex by 40.1% in 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 period. 93.39% of the stock is currently owned by institutional investors.

Terex Stock Performance

Shares of TEX opened at $59.61 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $4.02 billion, a P/E ratio of 9.14, a price-to-earnings-growth ratio of 0.47 and a beta of 1.68. The firm’s fifty day simple moving average is $60.18 and its two-hundred day simple moving average is $53.91. Terex Co. has a 12 month low of $28.82 and a 12 month high of $65.64.

Terex (NYSE:TEX) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.69. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Terex had a net margin of 8.96% and a return on equity of 35.91%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 earnings per share. As a group, analysts predict that Terex Co. will post 7.09 EPS for the current year.

Terex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, August 14th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Friday, August 11th. This is a boost from Terex’s previous quarterly dividend of $0.15. Terex’s dividend payout ratio is 10.43%.

Insider Transactions at Terex

In related news, CEO John L. Garrison, Jr. sold 9,966 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $60.00, for a total value of $597,960.00. Following the sale, the chief executive officer now owns 535,331 shares in the company, valued at approximately $32,119,860. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

TEX has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Terex from $53.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. Robert W. Baird boosted their price objective on shares of Terex from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Wells Fargo & Company boosted their price objective on shares of Terex from $66.00 to $74.00 in a research report on Thursday, August 3rd. KeyCorp boosted their price objective on shares of Terex from $72.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Finally, Citigroup boosted their price objective on shares of Terex from $52.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, July 18th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $61.58.

About Terex

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.