Terex Corporation (TEX) Stake Lessened by Sapience Investments LLC

Sapience Investments LLC lowered its position in shares of Terex Corporation (NYSE:TEX) by 28.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,780 shares of the industrial products company’s stock after selling 83,570 shares during the quarter. Sapience Investments LLC owned 0.22% of Terex Corporation worth $7,867,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Sei Investments Co. raised its stake in Terex Corporation by 19.5% in the 2nd quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 619 shares during the period. PNC Financial Services Group Inc. raised its stake in Terex Corporation by 7.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 403 shares during the period. US Bancorp DE raised its stake in Terex Corporation by 9.3% in the 1st quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 510 shares during the period. National Planning Corp bought a new stake in Terex Corporation in the 2nd quarter valued at $209,000. Finally, CIBC World Markets Inc. bought a new stake in Terex Corporation in the 2nd quarter valued at $210,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on TEX. BMO Capital Markets restated a “hold” rating and issued a $35.00 price target on shares of Terex Corporation in a research note on Monday, August 21st. Goldman Sachs Group, Inc. (The) lowered Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Thursday, June 15th. Deutsche Bank AG set a $44.00 target price on Terex Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating and set a $38.00 target price on shares of Terex Corporation in a report on Wednesday, September 13th. Finally, TheStreet raised Terex Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $38.50.

In other news, insider Kieran Hegarty sold 15,115 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $43.23, for a total transaction of $653,421.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brian J. Henry sold 10,154 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $40.00, for a total transaction of $406,160.00. Following the sale, the senior vice president now directly owns 313,263 shares in the company, valued at $12,530,520. The disclosure for this sale can be found here. Over the last three months, insiders have bought 4,202 shares of company stock worth $159,449 and have sold 99,675 shares worth $3,951,999. Corporate insiders own 2.50% of the company’s stock.

Shares of Terex Corporation (TEX) traded up 0.33% during midday trading on Friday, reaching $45.02. The company’s stock had a trading volume of 1,196,208 shares. The stock has a 50-day moving average price of $39.31 and a 200-day moving average price of $35.38. The stock’s market cap is $4.02 billion. Terex Corporation has a 52-week low of $21.88 and a 52-week high of $45.10.

Terex Corporation (NYSE:TEX) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.42 by $0.09. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. Equities research analysts anticipate that Terex Corporation will post $1.15 earnings per share for the current fiscal year.

Terex Corporation declared that its board has authorized a stock repurchase program on Wednesday, September 6th that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Monday, August 7th. Terex Corporation’s payout ratio is currently -50.79%.

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Terex Corporation Profile

Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.

Institutional Ownership by Quarter for Terex Corporation (NYSE:TEX)

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