Renaissance Technologies LLC Sells 177,000 Shares of Terex Co. (NYSE:TEX)

Renaissance Technologies LLC cut its stake in shares of Terex Co. (NYSE:TEX) by 94.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,800 shares of the industrial products company’s stock after selling 177,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Terex were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its holdings in shares of Terex by 46.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after buying an additional 222 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Terex by 0.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 36,671 shares of the industrial products company’s stock worth $1,695,000 after acquiring an additional 237 shares during the last quarter. Blue Trust Inc. increased its holdings in Terex by 26.8% in the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 260 shares in the last quarter. Barnett & Company Inc. raised its position in Terex by 4.3% in the fourth quarter. Barnett & Company Inc. now owns 7,300 shares of the industrial products company’s stock valued at $337,000 after purchasing an additional 300 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of Terex by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 83,035 shares of the industrial products company’s stock valued at $3,838,000 after purchasing an additional 320 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Terex

In related news, Director Andra Rush acquired 1,325 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $36.96 per share, with a total value of $48,972.00. Following the acquisition, the director now owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

TEX has been the subject of a number of research reports. Barclays dropped their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Citigroup dropped their price target on shares of Terex from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on Terex from $48.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley decreased their price target on Terex from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.60.

Terex Stock Performance

Shares of TEX stock opened at $39.84 on Friday. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. Terex Co. has a 52 week low of $31.53 and a 52 week high of $68.08. The firm has a 50 day moving average of $37.48 and a 200-day moving average of $45.26. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 8.03, a price-to-earnings-growth ratio of 4.53 and a beta of 1.40.

Terex (NYSE:TEX) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.26. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.26 billion. Terex had a net margin of 6.54% and a return on equity of 21.99%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share. On average, equities analysts forecast that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Friday, March 7th. Terex’s dividend payout ratio is currently 13.71%.

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.