Mackenzie Financial Corp Sells 2,985 Shares of Terex Co. (NYSE:TEX)

Mackenzie Financial Corp decreased its holdings in shares of Terex Co. (NYSE:TEX) by 37.7% in the fourth quarter, Holdings Channel reports. The firm owned 4,930 shares of the industrial products company’s stock after selling 2,985 shares during the quarter. Mackenzie Financial Corp’s holdings in Terex were worth $283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. raised its stake in shares of Terex by 90.9% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 18,121 shares of the industrial products company’s stock valued at $1,041,000 after acquiring an additional 8,631 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Terex in the fourth quarter valued at approximately $1,086,000. Perigon Wealth Management LLC raised its stake in shares of Terex by 6.8% in the fourth quarter. Perigon Wealth Management LLC now owns 8,831 shares of the industrial products company’s stock valued at $507,000 after acquiring an additional 563 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Terex by 36.2% in the fourth quarter. Cerity Partners LLC now owns 5,777 shares of the industrial products company’s stock valued at $332,000 after acquiring an additional 1,536 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Terex in the fourth quarter valued at approximately $234,000. Institutional investors own 92.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TEX. JPMorgan Chase & Co. lowered shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price target for the company. in a report on Monday, March 18th. Evercore ISI lowered their price target on shares of Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. The Goldman Sachs Group raised their price target on shares of Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. UBS Group lowered shares of Terex from a “buy” rating to a “neutral” rating and raised their price target for the company from $61.00 to $62.00 in a report on Tuesday, February 13th. Finally, Citigroup raised their price target on shares of Terex from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.08.

Insider Transactions at Terex

In other news, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the transaction, the insider now directly owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Kieran Hegarty sold 18,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the sale, the insider now directly owns 198,619 shares of the company’s stock, valued at approximately $11,281,559.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the sale, the chief executive officer now directly owns 380,834 shares in the company, valued at $22,876,698.38. The disclosure for this sale can be found here. Insiders have sold a total of 132,039 shares of company stock valued at $8,078,574 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Terex Price Performance

TEX opened at $59.59 on Monday. The company has a fifty day moving average price of $60.06 and a two-hundred day moving average price of $56.29. The firm has a market capitalization of $4.01 billion, a PE ratio of 7.89, a P/E/G ratio of 0.59 and a beta of 1.64. Terex Co. has a 52 week low of $42.50 and a 52 week high of $65.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 2.01.

Terex (NYSE:TEX) last announced its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.41. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Terex had a net margin of 9.87% and a return on equity of 31.52%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. As a group, analysts anticipate that Terex Co. will post 7.05 earnings per share for the current year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 8th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. Terex’s dividend payout ratio is 9.01%.

Terex Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, 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 related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.