Terex (NYSE:TEX) Downgraded by Vertical Research

Vertical Research lowered shares of Terex (NYSE:TEX) from a buy rating to a hold rating in a research report released on Friday, November 2nd, Marketbeat.com reports.

TEX has been the subject of several other reports. Deutsche Bank restated a sell rating and set a $34.00 price objective on shares of Terex in a research report on Wednesday, September 5th. ValuEngine downgraded Terex from a sell rating to a strong sell rating in a research report on Friday, October 19th. Longbow Research began coverage on Terex in a research report on Friday, October 12th. They set a neutral rating for the company. UBS Group set a $52.00 price objective on Terex and gave the stock a buy rating in a research report on Wednesday, August 22nd. Finally, Robert W. Baird upgraded Terex from an underperform rating to a neutral rating and set a $38.00 price objective for the company in a research report on Monday, August 20th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Terex currently has an average rating of Hold and an average target price of $41.75.

TEX traded down $1.39 during trading on Friday, reaching $30.39. The company’s stock had a trading volume of 2,270,363 shares, compared to its average volume of 1,789,311. Terex has a 52-week low of $28.64 and a 52-week high of $50.17. The firm has a market capitalization of $2.39 billion, a PE ratio of 22.51, a P/E/G ratio of 0.61 and a beta of 1.61. The company has a current ratio of 2.22, a quick ratio of 1.19 and a debt-to-equity ratio of 1.16.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.07). The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Terex had a net margin of 2.42% and a return on equity of 18.86%. Terex’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. On average, sell-side analysts predict that Terex will post 2.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Friday, November 9th will be issued a $0.10 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.40 annualized dividend and a yield of 1.32%. Terex’s dividend payout ratio (DPR) is presently 29.63%.

In other news, insider Kevin A. Barr sold 11,937 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $38.43, for a total transaction of $458,738.91. Following the completion of the sale, the insider now directly owns 101,980 shares in the company, valued at approximately $3,919,091.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eric I. Cohen sold 10,000 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $39.01, for a total transaction of $390,100.00. Following the sale, the vice president now directly owns 182,905 shares of the company’s stock, valued at $7,135,124.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 973 shares of company stock valued at $37,603 and have sold 38,866 shares valued at $1,514,531. Corporate insiders own 3.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Aperio Group LLC boosted its position in Terex by 3.8% during the 2nd quarter. Aperio Group LLC now owns 79,091 shares of the industrial products company’s stock worth $3,337,000 after purchasing an additional 2,924 shares during the period. Raymond James & Associates boosted its position in Terex by 108.5% in the 2nd quarter. Raymond James & Associates now owns 26,964 shares of the industrial products company’s stock valued at $1,138,000 after buying an additional 14,029 shares during the last quarter. Gabelli Funds LLC boosted its position in Terex by 196.6% in the 2nd quarter. Gabelli Funds LLC now owns 25,800 shares of the industrial products company’s stock valued at $1,089,000 after buying an additional 17,100 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Terex in the 2nd quarter valued at about $822,000. Finally, Morgan Stanley boosted its position in Terex by 2.6% in the 2nd quarter. Morgan Stanley now owns 3,199,629 shares of the industrial products company’s stock valued at $134,992,000 after buying an additional 80,932 shares during the last quarter. 98.74% of the stock is owned by hedge funds and other institutional investors.

About Terex

Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.

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