Greenhaven Associates Inc. Lowers Holdings in Terex Corporation $TEX

Greenhaven Associates Inc. trimmed its holdings in Terex Corporation (NYSE:TEX) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,477,733 shares of the industrial products company’s stock after selling 22,200 shares during the quarter. Terex makes up approximately 1.2% of Greenhaven Associates Inc.’s holdings, making the stock its 15th biggest position. Greenhaven Associates Inc. owned 2.25% of Terex worth $75,808,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in shares of Terex by 3.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,092,189 shares of the industrial products company’s stock worth $41,263,000 after acquiring an additional 40,077 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Terex by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 705,297 shares of the industrial products company’s stock worth $32,930,000 after purchasing an additional 10,741 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Terex by 68.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 704,844 shares of the industrial products company’s stock valued at $32,909,000 after purchasing an additional 285,186 shares during the last quarter. Minneapolis Portfolio Management Group LLC grew its position in shares of Terex by 42.6% during the third quarter. Minneapolis Portfolio Management Group LLC now owns 647,289 shares of the industrial products company’s stock valued at $33,206,000 after purchasing an additional 193,260 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Terex in the second quarter worth about $24,870,000. Institutional investors own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TEX shares. Raymond James Financial raised Terex from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Monday, October 27th. Morgan Stanley upgraded Terex from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $47.00 to $60.00 in a research report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Terex in a report on Wednesday, January 21st. Citigroup boosted their price target on shares of Terex from $52.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Finally, UBS Group lowered their price objective on shares of Terex from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.18.

Terex Stock Performance

NYSE:TEX opened at $57.21 on Friday. The firm has a market capitalization of $3.75 billion, a PE ratio of 24.34, a PEG ratio of 5.21 and a beta of 1.67. The stock’s fifty day moving average is $54.45 and its 200 day moving average is $51.99. Terex Corporation has a fifty-two week low of $31.53 and a fifty-two week high of $62.51. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.20 and a current ratio of 2.15.

Terex (NYSE:TEX) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.28. Terex had a net margin of 2.92% and a return on equity of 15.93%. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Terex Corporation will post 4.83 earnings per share for the current year.

About Terex

Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.

Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.