LPL Financial LLC Sells 289 Shares of Terex Co. (NYSE:TEX)

LPL Financial LLC lowered its position in Terex Co. (NYSE:TEX) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,562 shares of the industrial products company’s stock after selling 289 shares during the quarter. LPL Financial LLC owned approximately 0.06% of Terex worth $2,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TEX. Macquarie Group Ltd. bought a new position in Terex in the first quarter worth approximately $61,361,000. Greenhaven Associates Inc. bought a new stake in Terex during the 2nd quarter valued at $44,215,000. Victory Capital Management Inc. boosted its position in Terex by 2,821.9% during the 1st quarter. Victory Capital Management Inc. now owns 739,514 shares of the industrial products company’s stock valued at $35,778,000 after acquiring an additional 714,205 shares in the last quarter. Norges Bank bought a new stake in Terex during the 4th quarter valued at $30,229,000. Finally, FMR LLC boosted its position in Terex by 32.4% during the 1st quarter. FMR LLC now owns 1,974,430 shares of the industrial products company’s stock valued at $95,523,000 after acquiring an additional 482,695 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Terex Stock Performance

Shares of TEX stock opened at $47.56 on Friday. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 6.73, a price-to-earnings-growth ratio of 0.41 and a beta of 1.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.11 and a quick ratio of 1.06. The business has a fifty day moving average of $53.86 and a 200 day moving average of $54.79. Terex Co. has a 1 year low of $40.50 and a 1 year high of $65.64.

Terex (NYSE:TEX) last announced its quarterly earnings results on Friday, October 27th. The industrial products company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.08. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. Terex had a return on equity of 35.61% and a net margin of 9.39%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $1.20 EPS. As a group, research analysts expect that Terex Co. will post 7.09 earnings per share for the current year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Thursday, November 9th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, November 8th. Terex’s dividend payout ratio is currently 9.62%.

Insiders Place Their Bets

In related news, Director Andra Rush purchased 1,130 shares of the business’s stock in a transaction on Friday, October 27th. The shares were bought at an average cost of $44.31 per share, with a total value of $50,070.30. Following the transaction, the director now owns 19,775 shares of the company’s stock, valued at $876,230.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Terex news, Director Andra Rush bought 1,130 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were purchased at an average cost of $44.31 per share, for a total transaction of $50,070.30. Following the transaction, the director now directly owns 19,775 shares of the company’s stock, valued at $876,230.25. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Julie A. Beck acquired 1,100 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was purchased at an average price of $45.59 per share, for a total transaction of $50,149.00. Following the completion of the acquisition, the chief financial officer now owns 66,353 shares in the company, valued at approximately $3,025,033.27. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 9,730 shares of company stock valued at $437,344. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TEX. UBS Group dropped their target price on Terex from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays dropped their target price on Terex from $66.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 18th. Bank of America decreased their price objective on Terex from $64.00 to $58.00 in a report on Wednesday, October 11th. Wells Fargo & Company increased their price objective on Terex from $66.00 to $74.00 in a report on Thursday, August 3rd. Finally, Robert W. Baird increased their price objective on Terex from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Terex presently has an average rating of “Hold” and a consensus price target of $61.92.

Terex Company Profile

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.