Cerity Partners LLC Sells 13,795 Shares of Terex Co. (NYSE:TEX)

Cerity Partners LLC trimmed its holdings in Terex Co. (NYSE:TEX) by 55.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,930 shares of the industrial products company’s stock after selling 13,795 shares during the quarter. Cerity Partners LLC’s holdings in Terex were worth $541,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TEX. FMR LLC boosted its position in Terex by 17.0% during the fourth quarter. FMR LLC now owns 8,782,287 shares of the industrial products company’s stock valued at $405,917,000 after buying an additional 1,272,920 shares during the period. Fisher Asset Management LLC grew its position in Terex by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,890,625 shares of the industrial products company’s stock worth $87,385,000 after acquiring an additional 41,685 shares during the last quarter. American Century Companies Inc. increased its stake in Terex by 8.4% in the 4th quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company’s stock worth $80,479,000 after purchasing an additional 135,286 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Terex by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 982,636 shares of the industrial products company’s stock valued at $45,417,000 after purchasing an additional 41,758 shares during the period. Finally, Norges Bank bought a new position in shares of Terex in the fourth quarter worth approximately $35,001,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Transactions at Terex

In other Terex news, Director Andra Rush acquired 1,325 shares of Terex stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the acquisition, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. This represents a 6.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Terex Stock Performance

Shares of TEX opened at $33.56 on Tuesday. Terex Co. has a 52 week low of $31.53 and a 52 week high of $68.08. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. The stock has a market cap of $2.22 billion, a P/E ratio of 6.77, a P/E/G ratio of 4.53 and a beta of 1.40. The business’s 50 day moving average price is $39.09 and its 200-day moving average price is $46.35.

Terex (NYSE:TEX) last released its earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same period in the previous year, the company earned $1.88 EPS. Equities research analysts anticipate that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued a $0.17 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.68 annualized dividend and a yield of 2.03%. Terex’s dividend payout ratio (DPR) is presently 13.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEX. Citigroup cut their price target on shares of Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Evercore ISI dropped their price objective on Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on Terex from $48.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Morgan Stanley reduced their price objective on shares of Terex from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group lowered shares of Terex from a “neutral” rating to a “sell” rating and cut their target price for the company from $49.00 to $32.00 in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.60.

About Terex

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.