Jennison Associates LLC trimmed its holdings in shares of Terex Co. (NYSE:TEX) by 10.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 697,814 shares of the industrial products company’s stock after selling 77,469 shares during the quarter. Jennison Associates LLC owned 0.98% of Terex worth $22,421,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. AlphaCrest Capital Management LLC purchased a new position in Terex during the first quarter valued at approximately $1,537,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Terex in the first quarter valued at approximately $534,000. GAM Holding AG purchased a new stake in shares of Terex during the first quarter worth approximately $1,759,000. NumerixS Investment Technologies Inc increased its position in shares of Terex by 166.7% during the first quarter. NumerixS Investment Technologies Inc now owns 4,800 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of Terex during the first quarter worth approximately $231,000. Hedge funds and other institutional investors own 90.80% of the company’s stock.
In related news, Director International Master F. Marcato sold 1,600,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $27.31, for a total value of $43,696,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 1,747 shares of company stock valued at $53,558 over the last ninety days. 4.00% of the stock is currently owned by company insiders.
Shares of NYSE TEX traded down $0.68 during trading hours on Monday, reaching $30.72. The stock had a trading volume of 1,722,600 shares, compared to its average volume of 1,077,307. Terex Co. has a fifty-two week low of $25.47 and a fifty-two week high of $45.47. The business’s 50-day simple moving average is $28.86. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.41 and a current ratio of 2.27. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 0.89 and a beta of 1.77.
Terex (NYSE:TEX) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.57 by $0.30. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Terex had a positive return on equity of 25.38% and a negative net margin of 0.06%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. Equities analysts anticipate that Terex Co. will post 4.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Friday, June 7th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, June 6th. Terex’s payout ratio is currently 16.24%.
Terex Company Profile
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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