Terex Co. (NYSE:TEX) Stake Trimmed by Front Street Capital Management Inc.

Front Street Capital Management Inc. lowered its stake in Terex Co. (NYSE:TEX) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,575 shares of the industrial products company’s stock after selling 764 shares during the quarter. Terex makes up 3.0% of Front Street Capital Management Inc.’s investment portfolio, making the stock its 12th largest holding. Front Street Capital Management Inc. owned about 0.42% of Terex worth $15,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TEX. Clearbridge Investments LLC lifted its position in shares of Terex by 2.6% in the first quarter. Clearbridge Investments LLC now owns 351,153 shares of the industrial products company’s stock worth $22,614,000 after purchasing an additional 8,908 shares in the last quarter. TCW Group Inc. acquired a new position in shares of Terex in the second quarter worth $566,000. Russell Investments Group Ltd. raised its holdings in shares of Terex by 11.5% during the first quarter. Russell Investments Group Ltd. now owns 316,692 shares of the industrial products company’s stock worth $20,395,000 after acquiring an additional 32,630 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Terex by 26.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock valued at $6,809,000 after purchasing an additional 22,291 shares during the last quarter. Finally, Connectus Wealth LLC purchased a new position in Terex in the fourth quarter valued at about $1,872,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TEX. Robert W. Baird lifted their price objective on shares of Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Jefferies Financial Group lowered their price objective on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. boosted their target price on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Raymond James started coverage on Terex in a report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Citigroup reduced their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.90.

Insider Buying and Selling

In other Terex news, Director Andra Rush acquired 2,205 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the purchase, the director now directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

Terex Stock Up 1.2 %

Shares of Terex stock opened at $52.48 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. Terex Co. has a 12 month low of $43.70 and a 12 month high of $68.08. The business has a fifty day simple moving average of $55.89 and a 200 day simple moving average of $57.79. The stock has a market cap of $3.53 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53.

Terex (NYSE:TEX) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm earned $2.35 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. Research analysts predict that Terex Co. will post 7.21 EPS for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 9th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.30%. Terex’s payout ratio is presently 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.